Longpoint adds 32,000 s/f warehouse to New Jersey portfolio

Hillside, NJ —IPRG announced the sale of 490 Hillside Ave., a 32,066 s/f warehouse located in HI Industrial Zone of Hillside.

The property had been owned and occupied by M. Dietz Sons, for several decades. IPRG’s Yanni Marmarou, managing partner, assisted associate Andrea Nestico, who represented the long-time owner-user in the transaction. The sale marks a strategic acquisition for the buyer, Longpoint Realty Partners.

The property will be delivered vacant, offering Longpoint a valuable opportunity to reposition the asset and secure a long-term tenant in a high-demand industrial market. This sale also represents the shift in appetite for many industrial investors. As lease-up time for 100k+ s/f class A space is 11 months, small bay continues to thrive averaging four months for lease-up. Many investors are shifting focus to the quicker performing middle market space.

“Longpoint captured the opportunity to acquire a rare multi-use warehouse in a prime location,” said Marmarou. “With its strategic positioning at the junction of I-78 and Rte. 22, as well as the Garden State Pkwy., the property offers exceptional accessibility and long-term investment potential. It was truly a pleasure working with Longpoint, who executed a seamless closing process.”

IPRG continues to be an active player in the industrial real estate sector, currently marketing a number of additional opportunities in the Hillside market and beyond.

As demand for strategically located industrial assets remains strong, IPRG remains committed to providing expert advisory services to property owners, investors, and developers looking to capitalize on market trends.