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Faropoint Buys Two Industrial Properties in Northern NJ for $28M
Faropoint, a real estate investment firm focused on last-mile industrial properties in high-population growth markets, has acquired two Class B industrial properties in the Ridgefield submarket in the Meadowlands for $28.3 million.
Located at 1145 Edgewater Avenue and 1125 Hendricks Causeway, the 113,979 square feet buildings are occupied by Biazzo Dairy Products, a producer and distributor of mozzarella and ricotta cheese. The acquisition was negotiated as a long-term, market-rate sale-leaseback with Biazzo Dairy Products as the existing tenant. The properties offer connectivity to major transportation hubs, providing easy access to the New York City metropolitan area and other regional and national markets.
Viewpoint Advisors represented Faropoint as the buyer in the transaction.
