ProLogis was the seller of the asset, which sits on a five-acre site within the Rockleigh-McBride Office and Technical Park. The sale price of $3.3 million factors out to $48.92 per sf.
ProLogis was represented in the transaction by Craig Fitzpatrick and Peter Elfers of the Fairfield, NJ office of Grubb & Ellis. Royal Sovereign, meanwhile, was represented by Dan Saxon of McBride Corporate Real Estate of Franklin Lakes, NJ. "2 Volvo Dr. presented a unique opportunity for Royal Sovereign to buy and occupy a facility that addressed all of its operational needs," Fitzpatrick says.
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