Cushman & Wakefield arranges sale of 13-building NJ industrial park

Cushman & Wakefield arranged the sale of Totowa Commerce Center, a 506,723 square foot industrial park in the Fairfield/Passaic market in NJ. The park, consisting of 13 buildings and a 5.8-acre development site, was sold by Heritage Capital to Longpoint Partners. Terms of the sale were not disclosed.

Cushman & Wakefield’s industrial advisory group, including Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema, brokered the deal. The Totowa Commerce Center has recent capital improvements, 92 loading bays and 1,400 parking spaces and is located near major highways such as I-80 and Routes 46 and 23.

“The success of the Totowa Commerce Center is illustrative of a highly efficient park that offers optionality to occupiers of all types and sizes. Nothing comparable has been built in decades and Longpoint Partners will benefit from the competitive advantages of the park,” said Schmidt.