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Lee NJ’s Schaible Negotiates Sale, Two Leases in Bergen
SVP Michael Schaible of Lee & Associates NJ has completed the sale of a 72,000-square-foot industrial/flex in Englewood. He also negotiated two industrial lease transactions totaling 236,000 square feet, also in Bergen County.
Schaible represented the buyer, Sitex Group, in its $16-million acquisition of 100 W. Forest Ave. in Englewood. The property is a contemporary, multi-tenant industrial/flex building on 4.6 acres.
In Ridgefield, Schaible negotiated a seven-year, 111,000 square-foot lease on behalf of Cubitac Corp. at 4 Bell Dr. Cushman & Wakefield represented the owner, Metro Point LLC/Baring, a subsidiary of Mass Mutual. The transaction was developed as a forward sale for Barings by Sitex.
In Wood-Ridge, Schaible inked a 125,000-square-foot pre-lease at 5 Ethel Blvd., representing specialty food distributor GraceKennedy Foods, the first tenant to commit to the new warehouse property. Ben Rosen of Duke Realty represented the landlord in the long-term lease, encompassing two-thirds of the new warehouse space.
Pictured: 5 Ethel Blvd. in Wood-Ridge, NJ
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
- ◦Lease
