Another 200,000 SF Hits the Market

The additional space is not necessarily a sign of a further weakening of the market, according to Michael Schaible, B/K's director of industrial leasing and sales, who is heading up the effort to move the space. Rather, "our continued heavy activity in the industrial market is a positive sign that the overall economy and real estate market in New Jersey reflect healthy conditions," Schaible says.

The largest block of space is a 100,000-sf facility at 75 Woods Ave. in Paterson. Located in Bunker Hill Industrial Park, "the building is expandable by an additional 45,000 sf," according to Schaible. "It's also situated in an urban enterprise zone."

Also on Schaible's agenda is an 80,000-sf industrial building at 510 Commercial Ave. in Carlstadt, NJ. The last block is 20,000 sf of office/flex space within a 100,000-sf building on Union Blvd. in Totowa, NJ, near Routes 80 and 46. "The facility was formerly used as a check processing center," according to Schaible.

Besides the in-ground building space he's marketing, Schaible is also overseeing the marketing of three parcels of land totaling 12.5 acres. The largest tract is a nine-acre site on Penhorn Avenue in Secaucus, zoned for industrial use.

The second parcel is a two-acre site at 340 Evelyn St. in Paramus, which has approvals to build a 10,000-sf senior day care center. The final site is 1.5 acres for sale at 390 Veterans Blvd. in Carlstadt.

Besides its Teterboro headquarters, Binswanger/Klatskin has a regional office in Central New Jersey, at the Raritan Center business park in Edison. The firm is also a member of Chesterton Blumenauer Binswanger, the international real estate organization.