178 Commerce Road in Carlstadt — Courtesy: NAI James E. Hanson
By Joshua Burd
Venture One Real Estate has sold a more than 30,000-square-foot industrial building in Carlstadt for $9.1 million, brokers with NAI James E. Hanson announced Tuesday.
The buyer, Gran Trade Inc., will use the space at 178 Commerce Road to expand its import and distribution of natural and engineered stones, according to a news release. The 23-year-old company is already based in the borough, the listing team said, noting that it provides materials such as quartz, marble and quartzite to fabricators throughout New Jersey, New York, Connecticut and Pennsylvania.
NAI Hanson senior managing directors Jordan Avanzato and Christopher D. Todd and Managing Director William Ericksen of the firm’s Institutional Services Group represented Venture One, a Rosemont, Illinois-based real estate private equity fund manager, developer and operating company specializing in the industrial sector.
“This transaction reflects the pickup in demand we’re seeing across the Meadowlands from both a leasing and sales perspective,” Avanzato said. “By combining our investor relationships with a targeted user outreach strategy, we identified the property’s highest and best use, uncovering the right end user to maximize value and deliver the strongest possible outcome for our client, Venture One.”
The firm announced the deal while noting that the 30,300-square-foot building is in the heart of the Meadowlands, featuring 27,800 square feet of warehouse space, some 2,500 square feet of office space, two exterior loading docks, one drive-in door and 15-foot clear ceiling heights. It’s also near major highways such as routes 3, 17 and 46 and Interstate 95, ensuring easy access to New York City via the George Washington Bridge and the Lincoln Tunnel.
Teterboro Airport, meantime, is some three miles away, while Newark Liberty International Airport and Port Newark-Elizabeth are 15 miles away.
