WEST CALDWELL, NJ-The 29,000-sf mixed-use building at 45 Fairfield Place here has been sold for $2.6 million, which factors out to just less than $90 per sf. The transaction was brokered by Lerman Sanders Realty, a Totowa-based firm.
Seller JRM Real Estate was represented in the transaction by David R. Williams, Lerman Sanders' VP. Williams had earlier gotten a tenant into the building, Thoreb North America, a transportation consulting firm, enabling the property "to be more easily positioned for sale." The buyer was Passaic Properties LLC, a Hackensack-based group.
Situated on a three-acre site, the building consists of a 4,000-sf office component. The rest of its layout consists of warehouse space.
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