"The industrial real estate market in the area is very strong," according to Colliers Houston senior vice president and branch manager Howard Weinberg. "Available space is very tight and no one is building."
As far as the recent transactions, Weinberg and Colliers Houston associate Matthew Turse repped bike distributor Ducati North America in the sale of a 31,726-sf office/showroom building at 237 West Parkway. Buyer BLL Enterprises of Rockaway, NJ is using the space as a warehouse and showroom for forklift equipment.
In Fairfield, NJ, meanwhile, Weinberg and Turse handled the acquisition of a 16,727-sf industrial building for Sabel Realty of Totowa, NJ. Located on a 1.5-acre site, the building will be used for offices and warehousing. Jada Investment Inc. of Fairfield, repped by McBride Realty Services of Franklin Lakes, NJ, was the seller.
Weinberg and Turse also represented Mays Chemical Co. of Indianapolis is the leasing of just over 38,000 sf of office/distribution space at 134 Clinton Rd. in Fairfield, NJ. Building owner Ramfair Associates of Fairfield was spoken for by Bob Nathin of Sheldon Gross Realty, West Orange, NJ.
The same duo also completed a lease of nearly 9,000 sf at 160 Algonquin Parkway in Whippany, NJ representing the owner of the asset, Algonquin Realty. Tenant CMC Adaptive Seating is coming in from a nearby location in an expansion move.
Finally, Colliers Houston associate Frank Kobola acted for owner Kobrun Investments of Fairfield, NJ in leasing the entire 33,000-sf warehouse/office building at 161 Dwight Place in Fairfield to Peter Allen Inc., a distributor of novelty items. The tenant was represented in the transaction by Gary Space of Space Realty.
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