Formerly headquartered in a 10,000-square-foot facility in Fair Lawn, Silk Road Wholesaler & Distributors had outgrown their facility and hoped to find a similarly well-located but larger facility to house their growing business.
As an importer and direct supplier of nuts, dried fruits, herbs and spices, 343 Walsh Drive – which is located just over a mile from Route 46 and Interstate 80 – will enable the company to maintain its accessibility to major roadways.
Silk Road will share the 70,588-square-foot single-story industrial building with Worldpac, which renewed its lease for 43,419 square feet – meaning the building, which features 22’ ceilings, seven tailgates and two drive-ins, is 100 percent leased.
NAI Hanson’s Scott Perkins said he sees continued growth in the area.
“We continue to see the emergence of the Morris County submarket as the next industrial hotspot,” he said. “Owing to its relative affordability compared to markets further east and its ideal accessibility, we expect to see growing demand for properties like 343 Walsh Drive in the quarters to come.
“In highly fluid market conditions like this, it is crucial that landlords partner with a brokerage team that possesses the market knowledge and local area contacts needed to successfully secure short and long-term fair market value for their assets.”
Perkins, Christopher Todd, William Ericksen and Dena Scott represented the landlord, Cranberry Realty, in both transactions. Jules Nissim of Cushman & Wakefield represented Worldpac and Chad Hillyer of JLL represented Silk Road Wholesale & Distributors in their respective transactions.