The seller was represented by Mitchell B. Katz, vice president of the Trammell Crow Co., which has its New Jersey office in Florham Park. The buyer was represented by David Ferber and Frank Wolfer of SBWE, Hasbrouck Heights, NJ. The sale price was not disclosed, however, an industry source estimates that the building likely traded for a number in the $8 million range.
Situated on a 10-acre site, Noble Packaging's newly acquired facility is expandable by up to another 40,000 sf, according to Katz. The building has 25-foot clear ceiling heights, 11 loading docks and a total of nearly 25,000 sf of office space. A rail site is adjacent. "It is a quality industrial building which meets the buyer's needs, and the disposition met the seller's business needs," Katz says.
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