ELMWOOD PARK, NJ — Michael Schaible, senior vice president of commercial brokerage firm Lee & Associates NJ, has completed the sale of a 72,000 s/f industrial office building in Englewood and negotiated two industrial lease transactions totaling 236,000 s/f in Wood-Ridge and Ridgefield.
Schaible negotiated a 7-year, 111,000 s/f lease at a brand new, state-of-the-art distribution facility, part of a two building industrial development, located at 4 Bell Dr., Ridgefield. Cushman & Wakefield represented the owner Metro Point LLC/Baring, a subsidiary of Mass Mutual. The transaction was developed as a forward sale for Barings by Sitex. Schaible represented the tenant, Cubitac Corp, a growing wholesale importer and distributor of flat packed cabinetry that was looking to expand their distribution capabilities beyond the 100,000 s/f facility Schaible had arranged for them in 2016.