X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the industrial market.)

NEWARK-NAI James E. Hanson completed the sale of a 90,000-sf industrial building at 722 Frelinghuysen Ave. here. The building was purchased by Seoul Shik Poom Inc.

Marta Sala, NAI’s sales associate, represented the buyer. The price of the building, and the seller were not disclosed, and calls to NAI were not returned to GlobeSt.com before deadline.

“Warehouse and distribution real estate in the vicinity of Newark Liberty International Airport is in great demand, but very scarce,” Sala says in a company release. “This building has many characteristics that helped to seal the deal–location, size and unusual high ceilings for the area and age of the building.”

Seoul Shik Poom plans to redevelop the building. The property is an industrial facility on three acres of land. It is near the airport and major roadways, including the New Jersey Turnpike, the Garden State Parkway and routes 1, 9 and 21.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.