Faropoint, a real estate investment firm specializing in last-mile industrial properties in high-population growth markets, has acquired two Class B industrial buildings located at 1145 Edgewater Avenue and 1125 Hendricks Causeway in the Ridgefield submarket of the Meadowlands for $28.3 million. The 113,979 square feet buildings are occupied by Biazzo Dairy Products – a producer and distributor of mozzarella and ricotta cheese – who negotiated a long-term market rate sale leaseback as part of the acquisition.
The properties offer easy access to major transportation hubs providing convenient connectivity to New York City metropolitan area as well as regional and national markets. Viewpoint Advisors represented Faropoint during this transaction on behalf of the buyer.
