Hackensack, NJ-based NAI James E. Hanson associates Jeffrey DeMagistris and Tom Vetter represented Rowland Coffee in the transaction. Landmark Realty's Richard Harris was the outside broker. Terms of the sale, including the acquisition price, were not disclosed, however an industry source estimates that the asset traded for a number in the $2 million range.
The Miami-based Rowland Coffee "was very pleased with the location, as well as by the possibility of future expansion," according to DeMagistris. "The new owner will utilize the space for general office purposes and to support its warehousing and distribution needs throughout the metropolitan area.
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