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New York & Tri-State  + New Jersey  + Industrial  | 

CushWake Sells Historic Paterson Industrial Complex

Cushman & Wakefield arranged the sale of the I-80 Industrial Complex, a seven-building, 331,000-square-foot industrial asset in Paterson, NJ. 

A Cushman & Wakefield team of David Bernhaut, Gary Gabriel, Kyle Schmidt, Frank DiTommaso, Ryan Larkin, Seth Zuidema and Eli Milstein represented the seller. Joseph Smouha of Mynt Properties LLC acquired the complex for an undisclosed sum.

“The I-80 Industrial Complex is a great investment opportunity,” said Bernhaut. “The property is ideally located in proximity to many of New Jersey’s main transportation arteries and is fully leased to tenants paying significantly below market rental rates.”

Originally built and operated by Wright Aeronautical at the turn of the twentieth century, the I-80 Industrial Complex was once known as the largest airplane engine manufacturing factory in the U.S. The complex is fully leased to 14 tenants that benefit from the buildings’ heavy floor loads, abundant power and large floor plates.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types as well as delving into broader subject matter. He produces 15-20 daily news stories per day and also works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.

  • ◦Sale/Acquisition