Kurt Praschak / [email protected] / 973.992-7800, x.289
Alexa Cangialosi / [email protected] / 973.992-7800, x.172
Sheldon Gross Realty brokers deal for 77,983-square-foot structure
Follows 2019 transaction in same town valued at $34 million-plus
FAIRFIELD, NJ (Oct. 29, 2020) – In an $8.75 million transaction, a warehouse and distribution facility just off Route 46 in Fairfield was recently acquired by Ridgewood-based The Stro Companies. Sheldon Gross Realty Executive Vice President Bob Nathin brokered the deal on the 77,983-square-foot structure.
For Sheldon Gross Realty, the 140-142 Clinton Road transaction followed by about 17 months a separate, $34-million deal involving seven buildings at various Fairfield locations. This 2019 transaction was exclusively brokered by Nathin, and all properties involved – as is also the case with the warehouse at 140-142 Clinton Road – had been managed for more than two decades by Sheldon Gross Realty President Marcy Gross.
“In less than two years, we’ve sold nearly 400,000-square-feet of commercial real estate in Fairfield,” Nathin says. “These deals demonstrate what an exceptional location this township is for a wide range of businesses. Fairfield offers exceptional warehousing, office, and industrial structures in suburban Essex County, right on the border with Morris County, and a 30-minute drive from midtown Manhattan. It doesn’t get much more attractive than that.”
In addition to being just off Route 46, the recently-purchased warehouse is only a five-minute drive from Route 80, and less than 20 minutes from the Garden State Parkway.
“Being responsible for maintaining and managing leases on these various Fairfield locations for more than two decades, we knew just about everything there was to know about them,” Gross notes. “That made the various transactions reasonably straightforward, since we could quickly answer any question that arose.”
About Sheldon Gross Realty
Based in New Jersey and also licensed in New York State, Sheldon Gross Realty, Inc. offers clients a broad array of specialized services, including office, industrial and retail brokerage; tenant representation; property and asset management; office relocation; and consulting. Founded in 1962, the firm is known for its long-term client relationships, high percentage of repeat business, and a stellar, 95 percent success rate in leasing/selling the property assignment it undertakes. Featuring an exceptional team of professionals renowned for outstanding customer service and committed to unparalleled market research, Sheldon Gross Realty addresses its clients’ corporate real estate needs on a local, regional, and national scale.
Additional information is available online, at www.sheldongrossrealty.com. A free consultation is available by calling 862.930-5714.