A 20,000-square-foot Passaic County warehouse has traded in an off-market sale brokered by Lee & Associates, according to a Thursday announcement. Kessler-Schwartz Associates sold 25 Styertowne Road in Clifton to a private investor.
Lee & Associates’ Josh Krantz, senior vice president, represented the seller and procured the buyer in the transaction; he maintains longstanding relationships with both parties. Last fall, Krantz represented Kessler-Schwartz, a multigeneration, multifamily ownership entity based in Wyckoff, in the sale of 31 and 35 Styertowne Road. Now, with 25 Styertowne, he has assisted the firm with a total of 125,000 square feet in dispositions for that neighborhood portfolio. Subsequently, Krantz and team arranged a new, 28,000-square-foot tenant at 31 Styertowne Road.
Situated on nearly one acre, 25 Styertowne Road is a single-tenant property fully leased to Pereg Gourmet.
“The buyer was drawn to this property’s quality construction and ideal location proximate to the Garden State Parkway and Route 3,” Krantz said. “The greater Clifton submarket, with its limited supply, continues to see strong demand. This created an attractive opportunity for Kessler-Schwartz to sell the final building in this portfolio, and for the buyer to acquire a desirable, stabilized asset.”
