MAHWAH, NJ-ARC Global Holdings has acquired the industrial/flex facility from MSS Associates LLC at 500 Corporate Drive here for $3.32 million, approximately $86 per square foot.
ARC Global Holdings, as Globalsoft Digital Solutions, is relocating from another site in Mahwah to the 38,500-square-foot space to expand its digital printing business, says NAI James E. Hanson, its representative.
"A big selling factor was that 500 Corporate Drive has flex space for this flourishing business to expand," says NAI James E. Hanson SVP Kenneth D. Lundberg, who represented the seller. "The site is well located, close to major roadways, and also within a low tax municipality providing additional savings to the new owner."
The building is situated on a 5.7-acre lot, and includes 15,500 square feet of warehouse space; 10,500 square feet of flex/assembly space; and 12,500 square feet of office space. It is located near the intersection of Routes 17/287 and Interstate 87.
Other comparably-sized properties have sold for between $65 per square foot and $90 per square foot this year, according to LoopNet. Mark Siegler and Marc Hirschinger of Cassidy Turley represented ARC Global Holdings, LLC.
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