Commercial real estate news releases from Avison Young
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Avison Young arranges sale of 256 & 270 Sheffield Street in Mountainside
Two 100%-leased industrial buildings total approximately 80,000-square-feet (sf)
MORRISTOWN, NJ – Avison Young announced today that it has arranged the sale of two industrial buildings at 256 and 270 Sheffield Street in Mountainside, New Jersey on behalf of Brookrace Properties, LLC for $16.2 million. The buildings include two long-term tenants, an e-commerce retailer, and a printing company, in place, who each use the buildings as their headquarters.Avison Young’s Jeff Heller, Managing Director and Principal, and Steven Geltzeiler, Senior Vice President, represented both seller, Brookrace Properties, LLC, and the buyer, Snowball Development, Inc.
“This is the second time in the last four years that we have arranged the sale of these buildings,” said Heller. “The demand for industrial property in northern New Jersey continues to remain strong as demonstrated in this sale through the high level of interest by the investment community and multiple bids received by potential buyers.”
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For more information:
Avison Young is a 2022 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.
For more information:
- Download property photos here.
- Nathan Reyna, Regional Media Relations & Content Specialist, Northeast: +1.917.877.1697
- Jeff Heller, Principal & Managing Director, Morristown, NJ: +1.973.753.1100
- Steven Geltzeiler, Sr. Vice President, Morristown, NJ: +1.973.898.6360