Fabric Company Featured on 'Project Runway' Buying 73K SF Lodi Industrial Building
"Elevated demand from e-commerce retailers and distributors coupled with a limited supply of land and space, has led to record high sales prices for quality industrial assets like 39 Robinson," says NAI Hanson's Andrew Somple.
LODI, NJ— Mood Fabrics, featured on the popular Project Runway reality TV show, and named one of the 50 Most Powerful Companies in Fashion by the New York Daily News, is buying a 73,373-square-foot industrial building at 39 Robinson Road in Lodi, NJ.
NAI Hanson’s team of Scott Perkins, SIOR, Andrew Somple, SIOR, Greg James, Christopher Todd and Justin Allessio represented the seller, AEW, in the transaction with Mood Fabrics.
Mood Fabrics makes and distributes quality fabrics to customers ranging from high-profile celebrities to everyday consumers. The acquisition of 39 Robinson will allow the company to support its New York retail location at 225 West 37th St. and fulfill online orders for customers throughout the region.
Situated on 3.21 acres, 39 Robinson Road is an industrial building featuring 29-foot clear ceilings in 16,447 square feet of the building and 14-foot clear through the remaining 56,896 square feet. The building features three tailgates and three drive-ins. The building is situated just off Route 17 with immediate proximity to Routes 80 and 46, giving the space ideal accessibility to New York City, the Garden State Parkway and the New Jersey Turnpike.
The sale marks the culmination of a successful marketing strategy by NAI James E. Hanson on behalf of AEW to secure a buyer and capitalize on record high sales prices for Bergen County industrial assets. Mood Fabrics recognized the property’s accessibility and flexibility of the building’s layout would ensure the company could both support its New York City operation while securing access to markets to the south and west.
“What we are seeing in the Bergen County industrial market right now is a textbook definition of supply and demand in action,” says Somple. “Elevated demand from e-commerce retailers and distributors coupled with a limited supply of land and space, has led to record high sales prices for quality industrial assets like 39 Robinson. Despite high pricing, buyers continue to invest in the market and we were honored to work with AEW to market this building to secure a premium price in line with this asset’s value.”