Cushman & Wakefield on Monday announced it traded a 28,800-square-foot industrial condominium unit in South Plainfield for $4.55 million.
Located at 124 Sylvania Place. the asset features 22-foot clear heights, four docks and one drive-in garage door. The property is leased to Liftec Forklifts. It is situated five minutes from Exit 5 on Interstate 287, allowing for a 30-minute drive to Port Newark and less than an hour drive to New York City.
Cushman & Wakefield’s Andy Schwartz, Joran Sobel and Andre Balthazard represented the seller, Sylpan Inc., and procured the buyer, ACSS Group LLC, in the transaction.
“124 Sylvania is ideally located in one of the hottest industrial markets in New Jersey, with easy access to markets, ports and customers both locally and globally,” Sobel said. “The property’s high ceilings, good loading and accessible location ensures future demand and continued rent growth.”