A 17,752-square-foot industrial flex warehouse in Franklin Lakes was sold to Westwood Investments LLC for $3.8 million, according to a Tuesday announcement from Lee & Associates New Jersey.
The firm’s Senior Vice President Douglas Rowe arranged the sale of the two-story building fully occupied by a tenant with a long-term lease on behalf of Prestige Services, a vending, refreshment and dining services provider.
Located at 550 Commerce St., the newly acquired space will be used by Westwood Investments as an investment property.
“The industrial market in suburban markets has continued a strong trajectory throughout 2022,” Rowe said. “We are thrilled that we were able to assist our longtime client Westwood Investments in acquiring this property.”