X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ORANGE, NJ-The 64,000-square-foot, class C space–located here at 225 Scotland Rd.–is being purchased from Lincoln Mayflower Moving & Storage by 161 Properties LLC. Weichert Commercial Brokerage Inc. completed the sale on behalf of both the seller and buyer, but would not disclose the names of the agents who brokered the deal.

This marks the second deal WCB has completed for Washington, DC-based Lincoln Mayflower in the past year-and-a-half, as the company sheds space in an effort to exit the moving and storage business. In December 2007, Lincoln sold a 15,000-square-foot warehouse building located at 345 Main St. in Madison to Morristown-based investment fund manager Hampshire Cos.

“We are pleased to announce the closing of this transaction,” says WCB president John G. Udell. “Our team’s in-depth knowledge and experience in this constantly changing market is an asset to those looking to buy, sell or lease any type of commercial property or land.”

While neither party involved would disclose the sale price, a similarly sized class B industrial property in Bergen county is listed on WCB’s website with an asking price of $3.2 million, and a nearby 9,335-square-foot, class C warehouse–being handled by Gillooly Associates–shows a price tag of $599,000.

Located near Route 280 and the New Jersey Turnpike, the four-story building includes 2,880 square feet of office space and features 20-inch by 20-inch column spacing, one drive-in door and two exterior tailboards. Parking is available for approximately 50 cars.

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
  • 1 free article* every 30 days across the ALM subscription network
  • 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 © 2021 ALM Media Properties, LLC. All Rights Reserved.