Sun Chemical sold its manufacturing facility in East Rutherford to Deugen Development, and the industrial space will be developed into a modern facility that will satisfy the ongoing needs for e-commerce and last-mile delivery, according to a Thursday announcement from Avison Young.
Located at 390 Central Ave., the 47,310-square-foot building includes 3,000 square feet of build-to-suit office space, parking for 41 vehicles and over 45,000 square feet of divisible warehouse space.
Sun Chemical was represented by Avison Young Principals Timothy Cadigan and Matthew Turse and Vice Presidents Judy Troiano and John Gianis, who are all based in the firm’s Morristown office. The buyer, Deugen Development, represented itself.
Its location near the New Jersey Sports and Exposition Authority, Route 3, Route 17 and the New Jersey Turnpike provide excellent access to the region and labor pool. The anticipated modernizations to the building will commence in the mid- to late third quarter.
“The opportunity to transform Sun Chemical’s asset into a thriving part of our 21st century economy was a very exciting challenge for our team, and we’re thrilled that Deugen Development recognized the value of not only the future of the property, but its location,” Cadigan stated. “This transaction was able to not only functionalize an obsolete asset, but to monetize surplus real estate for our client and bring expanded service and jobs to Bergen County.”