700 Union Blvd., Totowa, NJ
TOTOWA, NJ—The Hampshire Companies sold 700 Union Boulevard, a 382,596-square-foot, newly constructed industrial building in the Northern New Jersey community of Totowa, NJ, for $51 million. The buyer was not identified.
A Holliday Fenoglio Fowler team led by executive managing director Joe B. Thornton Jr., senior managing directors Jon Mikula and José Cruz and directors Marc Duval and Jordan Avanzato marketed the property on behalf of the seller. The property was marketed along with a $146.85-million, six-building industrial portfolio totaling 1.2 million square feet in Northern New Jersey. That sale closed in 2017.
“We continue to see investor interest in high quality and well-located industrial assets throughout the state,” Cruz says. “This closing completes the acquisition of the portfolio.”
Situated on 26 acres, 700 Union Boulevard is just off Interstate 80 and less than 13 miles from the New Jersey Turnpike, which provides easy access to the rest of the northern part of New Jersey and New York City. The single-story building was completed in 2018.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
