Cushman & Wakefield on Wednesday said it has been retained on an exclusive basis to market the Art Factory, a 230,922-square-foot industrial property located at 70 Spruce St. in Paterson, for sale.
Cushman & Wakefield’s Andrew Schwartz, André Balthazard, Jordan Sobel, Dan Bottiglieri and Charles Parmelli are leading the marketing efforts on behalf of the owner, Great Falls Industrial Park Inc.
“We are excited to present this historically significant property situated within Paterson’s iconic landscape for sale,” Schwartz said. “This property can be converted for multiple uses, including apartment lofts, self-storage facilities or any other uses permitted within the Historic District Zone, providing a unique opportunity for a new owner to contribute to the ongoing legacy of this cherished location.”
The 21-building industrial complex is located on 5 acres of land and was originally built in 1844. The property benefits from frontage on Spruce Street and backs up to Great Falls National Historic Park. The buildings feature high ceilings, large antique windows and original brick walls.
The property is located directly off Interstate 80, allowing for a short commute to Newark Liberty International Airport and the George Washington Bridge.