NAI Fennelly sold a 27,362-square-foot industrial building in Trenton for $1.8 million according to a Thursday announcement.
Located at 480 Lalor St., the asset is a 27,362-square-foot industrial building featuring 12-foot clear ceilings, one loading dock, a 10-by-12-foot chemical storage room, 900-amp power and a gated parking lot with direct access to Route 29. It is also located within an Urban Enterprise Zone, a program designed to stimulate growth and create private sector jobs through public and private investment. The property also boasts proximity to Routes 1, 29, Interstate 195 and the New Jersey Turnpike.
The seller tapped NAI Fennelly to market the property for sale and attract a reputable buyer who was interested in a sale-leaseback until the company’s planned exit in 2023.
“The competitive industrial market and the Urban Enterprise Zone program have helped breath a second life into the many well-located industrial properties found across Trenton,” Matt Fennelly said. “Through partnering with an experienced and knowledgeable real estate solutions provider, owners can identify the potential of these unique, well-located factories and capitalize on the strong market conditions to create value from their assets through both strategic sales and leasing efforts.”