Cushman & Wakefield, a leading commercial real estate firm, has successfully facilitated the sale of an industrial portfolio in Paterson, NJ. The 192,000-square-foot property located at 75 Wood Street and 90 6th Avenue was sold to Eagle Cliff Real Estate Partners for $22.5 million with financing provided by GID Credit.
The buyer’s exclusive advisor was Cushman & Wakefield while the seller Marcus Partners was represented by a team of experts including Gary Gabriel, Kyle Schmidt, Ryan Larkin,Seth Zuidema,and Bill Baunach. The financing for this acquisition and future improvements were expertly handled by John Alascio , Chuck Kohaut,TJ Sullivan,and Jason Blankfein from Cushman & Wakefield’s Equity , Debt& Structured Finance team.
Known as I-80 Infill Industrial Park,the property comprises two buildings and an outdoor storage lot spanning one acre.It is currently fully leased to four tenants with an average remaining lease term of less than three years.This successful transaction highlights Cushman &Wakefield’s expertise in facilitating complex deals within the commercial real estate market.
