Cushman & Wakefield arranges sale of 124,000 s/f New Jersey industrial portfolio
- MAREJ
- 12 hours ago
- 2 min read
Gabriel, Schmidt, Larkin, and Zuidema represent the seller, Alexander Properties
MAHWAH, NJ — Cushman & Wakefield has arranged the sale of a two-property industrial portfolio. The portfolio includes a 67,170 s/f property at 27-35 Franklin Turnpike in Mahwah and a 56,651 s/f property at 90 New Dutch Ln. in Fairfield.
Cushman & Wakefield’s Gary Gabriel, Kyle Schmidt, Ryan Larkin, and Seth Zuidema represented the seller, Alexander Properties, in the transaction. Faropoint acquired the property.
“This portfolio offered a unique opportunity for Faropoint to acquire two well-positioned assets with significant value-add potential in highly desirable NJ submarkets,” said Gabriel. “Both properties are situated in ideal infill locations with high barriers to entry and direct access to major transportation corridors.”
27-35 Franklin Tpke. is fully leased to Beacon Roofing Supply, which has a long-term tenancy at the location. The site includes 1.3 acres of excess yard area, offering future flexibility. 90 Dutch Lane is the headquarters for Precision Textiles and also features excess yard 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.”
“These acquisitions reinforce our disciplined approach to high-quality Northeast assets,” adds Itay Ron, Northeast Market Officer at Faropoint. “Each property offers compelling fundamentals in supply-constrained markets where we continue to see potential strong value-add opportunities.”
In a separate Northern NJ transaction, Cushman & Wakefield announced that the real estate services firm has arranged the sale of 165 E Main St., a 15,879 s/f office building in Denville. The buyer will be an owner-occupier.
The Cushman & Wakefield team of Andrew Schwartz, Jordan Sobel, André Balthazard, and Dan Bottiglieri represented the seller. Toni Kaufmann of Realty Executives represented the buyer in the transaction.
“We are pleased to have represented the seller in the successful sale of 165 E Main St.,” said Balthazard. “This property presented a unique opportunity to acquire a prominent boutique office asset near the Denville Train Station and Downtown Denville. The high level of interest we received in this asset is a testament to the continued demand for high-quality assets in transit-oriented suburban downtowns like Denville.”
The two-story building benefits from its proximity to major transportation routes.