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Owner-Occupant Pays $25M for East Rutherford Industrial
Lee & Associates New Jersey Office arranged the $25-million sale of 180 Manor Rd., an 86,000-square-foot warehouse property in East Rutherford. The firm’s Troy Wisse, Michael Schaible and Eduardo Lopez represented seller Terreno Realty Corporation and procured the buyer.
The purchase of 180 Manor Rd. represents an expansion move for the buyer and will serve as the company’s new headquarters. The location and quality of the building were major considerations.
“The buyer already operates from a nearby building, so this acquisition allows the company to remain in the area while gaining a high-quality facility that can accommodate future growth,” said Wisse. “For industrial owner-users today, finding quality properties available for purchase can be challenging, particularly in high-barrier-to-entry markets. Our team’s market expertise enabled us to identify a buyer whose needs aligned with the property and successfully close the transaction.”
The property provides convenient access to routes 17 and 3, I-80, I-280 and the New Jersey Turnpike at Exit 16W.
- ◦Sale/Acquisition
