SBB Shipping buys 37K sq. ft. industrial building in Northvale for $7.6M

SBB Shipping, a prominent third-party logistics service provider, purchased a 37,000-square-foot industrial building in Northvale for $7.6 million, the Metz Industrial Group of Bussel Realty Corp. announced Monday.

The property, at 246-248 Pegasus Ave., features 17-foot ceilings, two tailboards, heavy power, wet sprinklers and 30-plus parking spaces. It is located near the New Jersey-New York border, Palisades Interstate Parkway and the George Washington Bridge.

Jordan Metz, senior vice president, and Benito Abbate, sales associate of the Metz Industrial Group of BRC, represented the buyer and the seller in the transaction. David Komor, commercial loan consultant of P&A Financial Services, handled the loan financing.

Abbate noted that, despite an increasingly difficult lending environment, SBB Shipping was able to close ahead of time in a seamless effort with SBA/bank financing.

In spite of multiple interest rate hikes, the Metz Industrial Group was able to garner multiple competitive offers and ultimately closed with an owner/user, which will utilize the building for its growing New York/New Jersey client demand.

SBB, with warehouses throughout the country, bills itself as a top service provider in its sector and a solution center for corporations dealing with e-commerce.