An industrial facility in Rockaway has been sold for $3.925 million, according to real estate firm Charity Realty International.
The deal for the 12,000-square-foot property at 195 Green Pond Road came out to approximately $327 per square foot, according to the firm’s president, James Costanzo. The buyer was North American Realty, represented by Ronald Kraft of Allied Realty, and the seller was Biagio Tomaro of Tomaro Leasing Corp.
“We may have just set a new price-per-square-foot record for this type of asset in Morris County,” he said in a prepared statement.
The building includes 50% office space and 50% drive-in warehouse space and sits on 11.2 acres with outside storage capabilities.
In accordance with Charity Realty’s corporate pledge, a grant for $8,250 will be gifted to Homes for Our Troops, for the purchase and adaptation of homes for severely wounded combat veterans.