82-Acre Industrial Site in Port Murray Changes Hands
The property at 985 Route 17 is accessible from Routes 57, 80, and 206 and paired with its zoning made it an ideal acquisition for the new buyer, who plans on leasing the space on a per-acre basis for small and larger companies that require storage for heavy and light equipment.
PORT MURRAY, NJ—An 81.6-acre vacant parcel that former housed an automotive and truck parts recycling facility here for more than four decades has been sold to an owner that will be looking to lease the property piecemeal.
Commercial brokerage firm NAI James E. Hanson reports that it brokered the sale of the property from Auto & Truck Wreckers, Inc. to buyer, Irish Meadows, LLC. No financial details of the transaction were disclosed.
The property at 985 Route 17 is accessible from Routes 57, 80, and 206 and paired with its zoning made it an ideal acquisition for the new buyer, who plans on leasing the space on a per-acre basis for small and larger companies that require storage for heavy and light equipment, NAI James E. Hanson states. The parcel’s location on the summit of a hill also affords a private yet open location for prospective buyers.
NAI James E. Hanson’s Sig Schorr represented the seller and the buyer in the transaction.
Earlier this month, NAI James E. Hanson reported it had negotiated the sale of a 0.52-acre lot located at 8 Second St. in South Orange. The firm’s Joan Cenicola and John Schilp represented the seller, Wells Fargo, in the transaction with 8 Second Street, LLC.
The new owner plans on transforming the 26,000-square-foot lot into a mixed-use building featuring ground level retail with a residential component above.