Cushman & Wakefield said Thursday that it arranged the sale of Burlews Industrial Portfolio, a 44,500-square-foot, seven-building asset in Hackensack. The final sale price was $7.3 million.
Cushman & Wakefield’s Andrew Schwartz, Jordan Sobel and André Balthazard represented the owner, Brentwood Realty, and procured the buyer, Dave Goldberg, in the transaction.
“Burlews Industrial Portfolio is an exciting value-add opportunity ideally positioned in the New Jersey industrial market, which continues to reach historic levels of demand,” Schwartz stated. “With its superior location and diverse rent roll, this fully leased portfolio offers an immediate upside and stable rent flow.”
Located at 61 Voorhis Lane, 84 Johnson Ave. and 73-100 Burlews Court, the portfolio is currently 100% leased to 11 tenants and is located near Interstate 80 and Routes 4 and 17, allowing for direct access to the George Washington Bridge and New York City, as well as Hackensack University Medical Center, Fairleigh Dickinson University and the Shops at Riverside.