Zimmel sells two buildings in Clark totaling over $11M

Zimmel Associates on Tuesday said it sold two adjacent buildings located in Clark for over $11 million.

Located at 133 Terminal Avenue and 159 Terminal Avenue, the free-standing buildings were among several buildings in the area owned by Denholtz Properties. They are 100% air-conditioned with gas heat and heavy power.

Both properties are well-landscaped with ample parking and situated in a highly desirable area for commercial real estate due to its proximity to major highways – directly off exit 135 on the Garden State Parkway with access to Routes 1, 9 and the New Jersey Turnpike, and transportation hubs.

133 Terminal Avenue is a 41,247 square foot building that sits on 5 acres of land. It features a mix of office and industrial space, with three loading docks, and a clear ceiling height of 16 feet to 16 feet, 11 inches. The 159 Terminal Avenue property is a 34,106-square-foot warehouse and distribution center on 2.14 acres. It features three loading docks and a clear ceiling height of 17 feet 3 inches. Both buildings are currently leased by Loreal USA through July 2024, at which time they will relocate to the Loreal USA Headquarters’ new addition across the street.

Zimmel Associates, once receiving the assignment to sell both buildings, initiated its marketing plan, which resulted in securing a buyer, an undisclosed client of Zimmel Associates, within two weeks. The purchaser, who had previously acquired a neighboring building from Zimmel Associates several years back, approached David Zimmel. The buyer’s interest in the deal was sparked by their satisfaction with the adjacent building they acquired earlier, along with having Loreal USA as its tenants. This ultimately contributed to the immediate and successful closure of the transaction.

“We are thrilled to have facilitated the sale of these two outstanding properties on behalf of our client,” David Zimmel, president of Zimmel Associates said. “Our team worked diligently to market the properties and attract qualified buyers, ultimately securing a deal that was a win-win for all.”

Zimmel Associates will be the exclusive agent responsible for marketing and leasing the buildings once available, which will begin as the new year approaches.