Insignia/ESG's Saddle Brook, NJ office arranged the transaction. The firm's Benjamin Katz, senior managing director of industrial services, and Richard Danesi, senior managing director, did the honors on behalf of State Farm. Building owner Hartz Mountain Industries of Secaucus represented itself.
"We are pleased to have been able to meet the business, financial and logistical objective of State Farm, all in one fell swoop," says Katz. "This transaction reflects a creative real estate solution in a tough economic environment."
The building at 35 Melanie La. is a 254,000-sf industrial facility featuring 24-foot ceiling heights and 30 loading docks, according to Danesi. It was formerly occupied by Corporate Express.
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