Northpath Investments acquired 323 Bergen Blvd., an industrial/flex facility in Fairview, for $5.1 million, to add to its growing portfolio of industrial/flex assets, according to a Friday announcement from the New York City-based real estate investment firm.
The 29,822-square-foot industrial/flex facility is 100% leased to Fairview Health Club, a local gym/fitness operator that has leased the entire property since opening its doors in 2013.
Northpath secured debt for this transaction off-market through a direct relationship with the lender.
“We are thrilled to add another industrial property to our portfolio” Gershon Alexander, principal at Northpath Investments, said. “We are bullish on the fundamentals of the asset class in Northern Jersey and believe this asset is well positioned to capture the exponential growth in the market for our investors.”