Avison Young brokers sale of 39,800-square-foot industrial property

Avison Young’s New Jersey office said Monday it has arranged the sale of 149 New Dutch Lane in Fairfield.

Built in 1979, the 39,800-square-foot industrial property has 30,500 square feet of refrigerated warehouse space and is situated in one of the most robust logistics hubs in the Northeast.

Avison Young Senior Vice Presidents Matthew Turse and Timothy Cadigan, who are both based in the firm’s New Jersey office, represented the buyer, Longpoint Realty Partners, in the negotiations. Avison Young Senior Vice President Marc Krieger, who is also based in Avison Young’s New Jersey office, represented the seller, FP Holdings. Following the acquisition, Longpoint Realty Partners has retained Turse, Cadigan and Krieger as the exclusive leasing agents for the property.

“The buyer of 149 New Dutch Lane was attracted to the building’s strategic location bordering multiple thoroughfares and the opportunity to bring in a new occupant, which puts them in a favorable position as demand continues to intensify in New Jersey’s industrial market,” Turse said. “Additionally, the building is the only available existing refrigerated space for lease within northern New Jersey and it will appeal to a wide range of warehouse and last mile users.”