FAIRFIELD, NJ—The industrial and office/flex market in Fairfield, NJ, is getting a lot of interest, according to an executive with Sheldon Gross Realty, which recently has sold two properties and listed a third – all within a few hundred yards of each other.
Sheldon Gross Realty executive vice president Bob Nathin recently brokered the purchase of a 29,328-square-foot building at 18-20 Industrial Road and the sale of a two-story, 16,000-square foot structure at 2 Industrial Road. And only one block over, at 130 Clinton Road, the firm is listing for sale a free-standing, 60,000-square-foot office/flex building with various spaces available.
“There's intense interest in Fairfield right now, to a degree that's rather uncommon,” Nathin says. “Multiple factors are involved, including limited commercial inventory, and both Route 80 and Route 46 run right through the town. In addition, Fairfield is just a 40-minute drive or one-hour bus trip from midtown Manhattan.”
The 18-20 Industrial Road property—which was occupied for the past decade by Glotel Inc. / Arete Development—was purchased by New Jersey-based Stro Companies, for $2.37million, or $81 per square foot.
Eastern Services purchased 2 Industrial Road, which is located just a short distance from the company's previous location. Used by Sprint/Nextel for the past two decades, the building's first floor is 60 percent raised computer floor, while the second floor is entirely devoted to office space. The location sold for $810,000 or $50 per square foot.
“This level of commercial and corporate real estate activity in one location indicates a very robust market,” says Sheldon Gross, the agency's president and CEO. “We're bullish about Fairfield and its surrounding area, and are looking forward to doing additional business here in the very near future.”
Available for sale, 130 Clinton Road occupies a 32-acre site at an interchange with Route 46. In addition, first and second floor offices are available for lease, with sizes varying from 2,223 to 12,091 square feet. Pricing ranges from $16.95 to $18 per square foot.
FAIRFIELD, NJ—The industrial and office/flex market in Fairfield, NJ, is getting a lot of interest, according to an executive with Sheldon Gross Realty, which recently has sold two properties and listed a third – all within a few hundred yards of each other.
Sheldon Gross Realty executive vice president Bob Nathin recently brokered the purchase of a 29,328-square-foot building at 18-20 Industrial Road and the sale of a two-story, 16,000-square foot structure at 2 Industrial Road. And only one block over, at 130 Clinton Road, the firm is listing for sale a free-standing, 60,000-square-foot office/flex building with various spaces available.
“There's intense interest in Fairfield right now, to a degree that's rather uncommon,” Nathin says. “Multiple factors are involved, including limited commercial inventory, and both Route 80 and Route 46 run right through the town. In addition, Fairfield is just a 40-minute drive or one-hour bus trip from midtown Manhattan.”
The 18-20 Industrial Road property—which was occupied for the past decade by Glotel Inc. / Arete Development—was purchased by New Jersey-based Stro Companies, for $2.37million, or $81 per square foot.
Eastern Services purchased 2 Industrial Road, which is located just a short distance from the company's previous location. Used by Sprint/Nextel for the past two decades, the building's first floor is 60 percent raised computer floor, while the second floor is entirely devoted to office space. The location sold for $810,000 or $50 per square foot.
“This level of commercial and corporate real estate activity in one location indicates a very robust market,” says Sheldon Gross, the agency's president and CEO. “We're bullish about Fairfield and its surrounding area, and are looking forward to doing additional business here in the very near future.”
Available for sale, 130 Clinton Road occupies a 32-acre site at an interchange with Route 46. In addition, first and second floor offices are available for lease, with sizes varying from 2,223 to 12,091 square feet. Pricing ranges from $16.95 to $18 per square foot.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
