RWJ Flooring has purchased 54 Schuyler St., a 7,215-square-foot industrial building in Belleville, for $1.95 million, the Metz Industrial Group of Bussel Realty Corp. announced Tuesday.
Ole Ole Foods was the seller, according to Jordan Metz, senior vice president at Bussel.
Metz said he was glad to be able to complete the transaction in a challenging time.
“In the months leading up to launching the sale of 54 Schuyler, we were in the midst of the most unfavorable interest rate environment in over a decade,” he said. “Compounding this, demand was softening across the board in real time.
“Despite these challenges, we still anticipated that 54 Schuyler would command significant interest in the market, given its prime infill location and modern specifications. At approximately 7,125 square feet, with 22-foot-high ceilings, drive-in and loading dock access, and dedicated parking, this highly functional building is perfect for a myriad of uses.”
The property is located immediately off Route 21 and in close proximity to the New Jersey Turnpike, Interstate 280, Port Newark/Elizabeth and Newark Liberty International Airport. The property features high ceilings, excess parking, cold storage and office space, and a loading dock and grade level drive-in door.
