Faropoint has recently acquired two multi-tenant industrial portfolios in Allendale and Mahwah, New Jersey. These properties, totaling 770,064 square feet and spanning a combined 68 acres, were previously owned by a joint venture between Camber Real Estate Partners and Advance Realty. The purchase price for these assets was not disclosed.
The Allendale Shallow-Bay Industrial Park comprises of seven properties with a total area of 370,064 square feet while the Mahwah Industrial Center features three buildings covering an area of 399,999 square feet. This strategic acquisition by Faropoint aims to bolster its presence in the Bergen County industrial market.
Cushman & Wakefield’s team consisting of Gary Gabriel Kyle Schmidt Ryan Larkin and Seth Zuidema facilitated this transaction as they represented the sellers while also procuring the buyer. With this latest development Faropoint continues to expand its portfolio in key markets across New Jersey demonstrating their expertise in commercial real estate investments.
