TETERBORO, NJ — Cushman & Wakefield has arranged the sale of 698 Rte. 46, a 616,992 s/f industrial building located at the heart of the Meadowlands. Purchased by Goodman, the property is fully net-leased to an investment grade tenant.
The property is situated on 27 acres, is fully climate controlled, has clear heights up to 32’, 40’ x 60’ and 50’ x 60’ column spacing, and is cross-docked. In addition to its quality and scale, 698 Rte. 46 is located 10 minutes from Manhattan.
“This was an outstanding match for an institutional investor seeking a core industrial investment,” noted Cushman & Wakefield vice chairman Gary Gabriel, who led the investment sales team assignment with Adam Spies, Andrew Merin, David Bernhaut, Marcella Fasulo, Kyle Schmidt, and Ryan Larkin, and assisted by Jason Goldman from Cushman & Wakefield’s leasing team. “698 Rte. 46 offers a bullet-proof location for final-mile solutions, and fundamentals have surged in the Meadowlands as tenants seek proximity to the nation’s largest MSA.”