NJ Industrial Property Sold for $11M – 38,310 Square Feet

Marcus & Millichap recently announced the sale of 125 Broad Ave., a three-building industrial property located in North Bergen, New Jersey. Constructed in 2004 on 2.86 acres, the 38,310-square-foot property features 21 units with two loading docks and 26 foot ceiling height as well as 21 drive-in doors and 50 parking spaces for tenants. Each unit also includes 150 square feet of office space. The transaction was facilitated by Mark Gjonbalaj, Alan Cafiero and Giacomo Fiorenza from Marcus & Millichap who represented the seller – a limited liability company – to close at $11 million with a New York based limited liability company buyer.