Sparta Industrial Development Site Changes Hands
13 Aaron Way is the largest lot in the White Lake Commerce Park and the only one to feature direct access to rail siding. Tomco Construction plans to construct a modern industrial building on the site.
SPARTA, NJ—Another industrial development site at the White Lake Commerce Park here has been sold.
Commercial brokerage firm NAI James E. Hanson reports that a 5.76-acre industrial development site at 13 Aaron Way has been sold by locally-based Berardi Development Company to Tomco Construction of Mount Arlington, NJ.
No financial terms of the transaction were disclosed.
NAI Hanson’s Sig Schorr and John Schilp represented the seller and the buyer in the transaction.
Occupying 31.54-acres along the NYS&W freight rail line just off of Route 15, the White Lake Commerce Park is made up of 12 subdivided fully improved lots in Sussex County. Situated 12 miles from Interstate 80 and less than five miles from Route 206, the property is ideally suited for a wide range of industrial uses, the brokerage firm notes.
As a designated Economic Development District, the White Lake Commerce Park presents developers with unique opportunities to create buildings tailor-made to the specific needs of tenants in northern New Jersey. Each of the 12 lots making up the White Lake Commerce Park are zoned for a number of uses ranging from scientific research and development laboratories to office buildings, storage buildings, warehousing and distribution, light manufacturing, and indoor recreation. Of the White Lake Commerce Park’s 12 development lots, 10 are currently under contract.
13 Aaron Way is the largest lot in the White Lake Commerce Park and the only one to feature direct access to rail siding. Tomco Construction plans to leverage the lot’s flexibility and accessibility to construct a modern industrial building on the site, according to NAI James E. Hanson.
This sale marks the latest sale at the White Lake Commerce Park since project partners broke ground on a project on one of the adjacent lots earlier this summer. In late June, NAI James E. Hanson and joint venture partners, Berardi Development Company and Joe Maggio Concrete and Masonry, broke ground on 5 Aaron Way, a 10,400-square-foot industrial/flex space in the White Lake Commerce Park. The joint venture partners will also begin construction shortly on the adjacent 1.89-acre lot at 7 Aaron Way to create another 10,400-square-foot industrial/flex building later this year.
“We continue to see increased interest in industrial development in Sussex County as record-high pricing to the east forces developers to look west for prime development opportunities,” Schilp says. “With ideal accessibility and attractive pricing, the White Lake Commerce Park presents developers with a unique opportunity to realize the benefits of this market to capitalize on the boom in industrial development.”
Currently, the White Lake Commerce Park has two remaining lots available for sale starting at 1.89-acres. Additionally, there are industrial/ flex leasing opportunities starting at 10,400 square feet at 7 Aaron Way.