(Read more on the industrial market.)
NEWARK-NAI James E. Hanson completed the sale of a 90,000-sf industrial building at 722 Frelinghuysen Ave. here. The building was purchased by Seoul Shik Poom Inc.
Marta Sala, NAI's sales associate, represented the buyer. The price of the building, and the seller were not disclosed, and calls to NAI were not returned to GlobeSt.com before deadline.
"Warehouse and distribution real estate in the vicinity of Newark Liberty International Airport is in great demand, but very scarce," Sala says in a company release. "This building has many characteristics that helped to seal the deal--location, size and unusual high ceilings for the area and age of the building."
Seoul Shik Poom plans to redevelop the building. The property is an industrial facility on three acres of land. It is near the airport and major roadways, including the New Jersey Turnpike, the Garden State Parkway and routes 1, 9 and 21.
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