246-248 Pegasus Ave. in Northvale — Courtesy: Bussel Realty Corp.
By Joshua Burd
A third-party logistics firm has acquired a 37,000-square-foot industrial building in Northvale for $7.6 million, brokers with Bussel Realty Corp. announced Monday.
In a news release, the sales team said it represented both parties in the deal at 246-248 Pegasus Ave. The buyer, SBB Shipping, provides solutions for corporations involved with e-commerce and will use the space to support its growing operation, benefiting from a location near the New Jersey-New York border and one that’s accessible from the Palisades Interstate Parkway.
BRC Senior Vice President Jordan Metz and Sales Associate Benito Abbate completed the assignment, noting that the building has 17-foot ceiling heights, two tailboards and more than 30 parking spaces, among other features. David Komor of P&A Financial Services arranged financing.
“SBB identified the value of the functional warehouse space at 264 Pegasus Avenue, which provides superb access to the northern New Jersey and New York City regions,” Abbate said. “In spite of multiple interest rate hikes, the Metz Industrial Group was able to garner multiple competitive offers and ultimately closed with an owner/user, who will utilize the building for their growing New York/New Jersey client demand. We wish SBB the best in their new facility and look forward to seeing their continued growth.”
