STRO and The KRE Group acquire 120,000 s/f industrial portfolio

Totaling three buildings in Elmwood Park

ELMWOOD PARK, NJ — The STRO Cos. and The KRE Group have expanded their industrial footprint through the acquisition of 5 and 30 Paul Kohner Place in Elmwood Park, a three-building portfolio totaling 120,000 s/f on 7.4 acres at the intersection of I-80 and the Garden State Parkway in hyper-infill Bergen County, New Jersey.

The partnership plans to complete its STRO “GRADE” capital improvement plan, repositioning 30 Paul Kohner Place into a class A industrial outdoor storage facility featuring 20,000 s/f of warehouse space with 20-foot clear heights, two docks, two drive-in doors, and 3,000 amps of power on 4.5 acres of low-coverage land. The site is ideally suited for contractors, fleet operators, building material suppliers, and heavy equipment companies. The property’s IG zoning permits outside storage as a primary use, providing significant operational flexibility for prospective occupiers.

“5 & 30 Paul Kohner Place fits squarely within our investment thesis, functional, infill industrial assets in supply-constrained submarkets where we can create meaningful value through repositioning and capital investment,” said Eli Millstein of The STRO Cos. “Bergen County remains one of the tightest industrial markets in the country, and the combination of as-of-right outdoor storage, existing warehouse infrastructure and substantial power made this an opportunity we moved quickly to secure. We’re excited to partner with KRE to unlock the full potential of this site.”

“Our partnership with STRO continues to deliver high-quality industrial assets in markets where we have strong conviction,” said Jonathan Kushner, president of The KRE Group. “The acquisition reflects our shared focus on well-located, functional properties with clear paths to long-term value creation.”

Financing for the acquisition was provided by IDB Bank.