Avison Young said it recently arranged the sale of two industrial buildings at 256 and 270 Sheffield St. in Mountainside on behalf of Brookrace Properties LLC for $16.2 million. The buildings include two long-term tenants, an e-commerce retailer and a printing company, in place, which each use the buildings as their headquarters.
Avison Young’s Jeff Heller, managing director and principal, and Steven Geltzeiler, senior vice president, represented both the seller, Brookrace Properties LLC, and the buyer, Snowball Developments Inc.
“This is the second time in the last four years that we have arranged the sale of these buildings,” Heller stated. “The demand for industrial property in northern New Jersey continues to remain strong, as demonstrated in this sale through the high level of interest by the investment community and multiple bids received by potential buyers.”