Lee & Associates New Jersey negotiates $52M Passaic industrial sale

153 Linden St. Trades from Waitex to Thor Equities

Lee & Associates New Jersey this month completed the $52 million sale of 153 Linden St., a 330,000-square-foot, fully-leased industrial property in Passaic.

The commercial real estate services firm’s Rick Marchisio, Brian Lynch and Drew Maffey were retained by the seller to effect a sale of the property and ultimately procured the buyer in the transaction.

New York-based Thor Equities purchased 153 Linden St. from Waitex.

“In a fiercely competitive marketplace, all parties were able to negotiate an equitable deal — a testament to both the seller and buyer,” Marchisio said. “The bidding process was highly competitive, which points to continued velocity and appetite for industrial product throughout the entire state of New Jersey.”

The warehouse property sits on 10.7 acres in one of the nation’s top-tier industrial markets, close to Route 21. It offers easy access to both Newark Liberty International Airport and Port Newark-Elizabeth.