Marcus & Millichap helps trade $3.7M Wood-Ridge warehouse

Marcus & Millichap on Tuesday said it helped sell a 15,000-square-foot warehouse in Wood-Ridge for $3.7 million.

“This property received multiple bids within a short period of time after we launched marketing,” Mark Gjonbalaj, first vice president of investments, said. “Despite a challenging market, we were able to quickly procure the best buyer for this property and quickly move it towards a successful outcome for both buyer and seller. Well-located industrial assets in northern New Jersey continue to be viewed as a favored asset class.”

Gjonbalaj and Alan Cafiero, investment specialists in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of both the seller and buyer.

The industrial warehouse at 7A Donna Drive is located in the light industrial park zoning district, near major roadways, including Interstates 95 and 80 and Routes 46, 17 and 3, and the Lincoln Tunnel. It features two loading docks, 19-foot ceiling heights, one drive-in door and 15 parking spaces.