HACKENSACK, NJ — The Stro Companies announced the purchase of a two-property portfolio in Hackensack, spanning a total of 83,000 s/f.
The Stro Companies (STRO) acquired 211-215 S. Newman St. in Hackensack. The property consists of two industrial buildings comprising of 65,000 SF of divisible space and an 18,000 s/f of freestanding space.
STRO, in sticking with its focus on acquiring middle-market industrial properties with a value-add component, will be adding significant interior and exterior improvements as it looks to fill the spaces. “We are thrilled to add the Hackensack properties to our portfolio, demonstrating our continued ability to find value in this incredibly tight Northern New Jersey industrial market,” said Mitchel Kay, COO & general counsel at STRO. “These properties bring our acquisition count to eleven within about the last eighteen months.”