Bussel Realty Corp.’s Gregory Irving, SIOR brokers sale of 43 & 44 Commerce St. in Springfield, NJ

Springfield, NJ — Bussel Realty Corp. (BRC) announced the sale of two flex properties at 43 and 44 Commerce St. in Springfield, totaling 6,100 s/f. The properties traded in separate transactions for a combined $2.08 million.

43 Commerce St., a 2,100 s/f flex building, sold for $685,000 to TPG LLC. 44 Commerce St., a 4,000 s/f flex building, sold for $1.395 million to 1307 Property LLC, which was represented by Bennett Realty.

Gregory Irving, SIOR, executive VP of Bussel Realty Corp., represented the ownership of both properties, 43 Commerce Street LLC for 43 Commerce St. and Commerce Street Properties for 44 Commerce St., in the transactions.

“These sales reflect the continued high demand to purchase well-located, functional properties in the Northern New Jersey market,” said Irving. “Both 43 and 44 Commerce Street offered a compelling combination of office and warehouse space, accessibility and proximity to major transportation corridors. The successful sale of both properties demonstrates the strong appeal of smaller, strategically located commercial assets to both owner-users and investors.”

Located in a well-established commercial area of Springfield, 43 Commerce St. features 2,100 s/f, including 800 s/f of warehouse space and 1,300 s/f of office space. The property includes 11-ft ceiling heights, one tailboard loading position and seven parking spaces.

44 Commerce St. consists of 4,000 s/f, including 800 s/f of warehouse space and 3,200 s/f of office space. The property features 12-ft ceiling heights, one tailboard loading position and six parking spaces.

Both properties benefit from convenient access to Rte. 22, I-78 and the Garden State Parkway, and are located just minutes from Newark Liberty International Airport, providing connectivity to major regional transportation routes and population centers throughout Northern and Central New Jersey.