MAHWAH, NJ-Mahwah Realty LLC has acquired a 50,000-square foot retail/warehouse building at 270 Rte. 17 S. here for $3.765 million, NAI James E. Hanson confirms. The building is zoned for both retail and wholesale distribution, and currently is home to a Rainbow Play Systems showroom.
“This site has great Route 17 visibility,” says NAI Hanson SVP Kenneth D. Lundberg, who represented Mahwah Realty LLC. The building, located near the intersection of Route 17 and Interstate 287, makes it accessible for travelers. “The buyer will use the facility for a plumbing supply house and distribution operation under the name New Jersey Plumbing Supply so the dual uses made it a perfect match.”
Similarly sized industrial buildings in the area have sold for between $3 million and $3.5 million, according to LoopNet, and another commercial building at 295 Rte. 17 N. is for sale for $3.2 million, according to several real estate sites. The seller, MJ Mahwah Properties LLC, was represented by Susanne Newmark and Nancy Glick of Newmark Associates Inc.
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