NAI DiLeo-Bram & Co. (NAIDB) vice president Richard Goski and associate vice president Catherine Goski-Vasquez recently facilitated the $6 million acquisition of 860 Springfield Road in Union Township, a 24,000-square-foot industrial building, on behalf of an unnamed floor-coating distributor. The site had been occupied by aluminum bottle company Elemental Container Inc., which moved to Warren last year.
The property’s location on more than an acre offered strategic advantages to the buyer. These include access to Route 22, the Garden State Parkway and New Jersey Turnpike, alongside key transportation hubs such as Port Newark-Elizabeth and New York City as well as New Jersey’s strong regional labor markets.
NAI DiLeo-Bram finalized the sale of the 860 Springfield property before it went to auction, according to Goski-Vasquez. She added that the buyer’s business had rapidly expanded beyond its previous location, which the Goski/Goski-Vasquez team secured for them four years prior.
The transaction highlights continued owner-user interest in small- to mid-sized industrial assets across northern and central New Jersey.
“My father and I have really focused our efforts on the greater Union County market,” said Goski-Vasquez. “We find there is continued high demand for these standalone industrial buildings within close proximity to major thoroughfares and the ports.”
According to NAIDB, while industrial-property sale prices have generally been moderating over the past six months, the demand for industrial space – especially stand-alone properties under 25,000 square feet – remains robust because of limited availability.
A Cushman & Wakefield report earlier this year said the northern and central New Jersey industrial market experienced a slower start to 2025, with warehouse leasing activity totaling 5.5 million square feet, down from 6.2 million a year ago.
“Scarcity creates value beyond measure,” said Goski. “In the absence of readily available options, even amidst economic headwinds, the fundamental need for industrial space persists.”
Based in Woodbridge, NAIDB is a member of NAI Global, a leading global commercial real estate adviser with more than 325 offices and 5,800 professionals.
