$14M Takes 113,000-SF Industrial

(Read more on the multifamily market.)

CARLSTADT, NJ-The 113,000-sf, single-story warehouse building located at 333 Starke Rd. here has been sold for $13.8 million, a sale price that factors out to just more than $122 per sf. The seller was Baker Properties of Pleasantville, NY, the commercial division of homebuilder Baker Cos. The buyer was BlackRock, the global investment manager which has its North American headquarters in New York City.

The building is currently fully leased to Heritage Brands, a manufacturer of laundry detergents and household cleaning products that has its headquarters offices in another nearby building. The 40-year-old privately held Heritage Brands has been the sole occupant of 333 Starke Rd. since the building was built in the mid-1970s.