Cushman & Wakefield said Nov.20 that the real estate services firm has arranged the sale of a two-property industrial portfolio. The portfolio includes a 67,170-square-foot property at 27-35 Franklin Turnpike in Mahwah and a 56,651-square-foot property at 90 New Dutch Lane in Fairfield.
Cushman & Wakefield’s Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema represented the seller, Alexander Properties, in the transaction. The property was acquired by Faropoint. Financial terms were not disclosed.
“This portfolio offered a unique opportunity for Faropoint to acquire two well-positioned assets with significant value-add potential in highly desirable New Jersey submarkets,” said Gabriel. “Both properties are situated in ideal infill locations with high barriers to entry and direct access to major transportation corridors.”
The 27-35 Franklin Turnpike property is fully leased to Beacon Roofing Supply, which has a long-term tenancy at the location. The site, reconstructed in 2020, includes 1.3 acres of excess yard area, offering future flexibility. The 90 Dutch Lane property is the headquarters for Precision Textiles and also features excess yard capacity for parking and trailer storage.
“Both Mahwah and Fairfield represent strategic micro-locations within our broader aggregation play across Northern New Jersey,” said Orry Michael, vice president, Northeast acquisitions at Faropoint. “We’re selectively expanding our footprint in submarkets where we have seen strong tenant demand, limited supply, and long-term stability.”
