Northvale industrial park sells for $27M

An industrial park in Northvale has sold for $27 million, according to real estate firm Cushman & Wakefield.

Ludlow Industrial Park, which includes three buildings totaling 193,235 square feet at 140, 150 and 170 Ludlow Ave., was vacant at the time of sale.

C&W’s team of Gary Gabriel, Kyle Schmidt, Chuck Fern, Tom Tucci and Eli Millstein represented the seller, RAB Lighting, in the sale to Suburban Jersey Properties.

“We received significant interest from investors and users for this asset,” Gabriel said in a prepared statement. “This sale is indicative of the unabated demand for functional, infill real estate.”