ROCHELLE PARK, NJ-In separate transactions, locally based Tulfra Realty has sold two industrial condominiums totaling 13,000 sf. One is located in Nutley and the other is in Lodi.
NAI James E. Hanson brokered both sales. In the larger of the two, NAI Hanson represented buyer Block Scientific in the acquisition of the 7,200-sf industrial condo at 52 E. Centre St. in Nutley. The firm's Darren M. Lizzack, a sales associate, spoke for Block Scientific. The buyer will use the space for its new offices, plus light assembly and distribution. Tulfra Realty was represented in-house. "Block Scientific was looking to consolidate two of its New York metro area locations into one," Lizzack says.
In the second deal, Daekyung Properties bought the 5,800-sf industrial condo at 160 Greeg St. in Lodi. Hanson's SVP Mildred C. Hanson represented Daekyung, while the seller was again represented in-house. The terms of both transactions were not released.
"Daekyung is relocating from their previous location in Hackensack," Hanson says. "With industrial vacancy rates in Bergen County under 6%, this sale is consistent with the market trends that we're seeing in the area."
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