118 Route 17 North in Upper Saddle River — Courtesy: Devli Real Estate
By Joshua Burd
Devli Real Estate has added to its Bergen County portfolio, acquiring a 67,000-square-foot flex industrial and retail complex in Upper Saddle River.
The firm said the asset, located at 118 Route 17 North, occupies 6.3 acres with prime highway frontage in one of northern New Jersey’s most active and supply-constrained commercial submarkets. Features include 19 drive-in doors and what it described as a highly divisible layout, offering a degree of versatility that pairs well with its low-coverage footprint.
That’s likely to appeal to a diverse mix of industrial, retail and service-oriented users, Devli Real Estate said, citing Bergen County’s limited new development and continuing shortage of well-located assets. The site also provides strong access to dense consumer populations, regional transportation infrastructure and the broader New York metropolitan area.
Terms of the acquisition were not disclosed.
“This acquisition advances our strategy of pursuing infill industrial and flex assets in supply-constrained Northeast submarkets, where land scarcity, restrictive zoning and proximity to dense consumer populations continue to support tenant demand and long-term rent growth,” said Christopher Devli, principal at Devli Real Estate. “The combination of low-coverage flex industrial space with premier retail frontage along Route 17 is exceedingly rare in Bergen County — and is precisely what drew us to this asset.”
