$6M Takes 57,000-SF Industrial Property

MAHWAH, NJ-Swings & Things Inc. has acquired the 57,000-sf industrial building at 270 Route 17 South for $5.5 million. The sale price for building factors out to just more than $96 per sf. For Swings & Things, the acquisition will mark the company’s relocation from Hillburn, NY.

In the transaction, seller Ridgewood Corp. was represented by Kenneth Lundberg and Gary Sauerborn, senior vice presidents at NAI James E. Hanson of Hackensack. Ridgewood is a plumbing products company that vacated the premises and listed it for sale in late 2004 as part of that company’s relocation to Harriman, NY. Buyer Swings & Things was represented by Bud Prober of Provest Realty, Wilmington, DE, and Barbara Burns of the locally based Burns Commercial Realty.

“Bergen County’s warehouse and distribution space is in such great demand that properties are seeing significant interest from multiple buyers and prices are being driven up to record highs,” Lundberg says. “Northern Bergen County is particular has become a very expensive area to buy real estate.”

Fronting on Route 17 South near the interchange of I-87 and I-287, the building includes 5,000 sf of office space, a similar amount of retail space and 47,000 sf of warehouse/distribution space. Swings & Things plans to use the location for a combination of a retail outlet and a distribution center for swing sets and outdoor products.