Paterson NJ — Marcus Partners, a real estate investment, management and development firm, recently acquired 75 Wood Rd. and 90 6th Ave. in Paterson. The two industrial buildings total 194,000 s/f and are 100% leased to four companies. This is the firm’s first industrial investment in New Jersey and ninth overall this year, bringing year to date activity to 1.3 million s/f
“This investment provides an attractive mix of current cash flow with value-add opportunities through property enhancements,” said Bill McAvoy, principal at Marcus Partners. “As we aggressively seek new investments along the east coast, this is a great start for us in New Jersey.”
Marcus’ existing portfolio of industrial buildings and development deals now totals 3.6 million s/f, including 800,000 s/f of development. Marcus Partners continues to seek additional opportunities in the Boston to Washington DC markets. As a part of the effort, this purchase begins the assembly of a New Jersey portfolio of class A and B industrial assets including existing and ground up development - consistent with its current portfolio.
The property is proximate to Rte. 80 and offers attractive loading and an oversized lay down area.
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