36 Pine St. in Rockaway Borough — Courtesy: Resource Realty of Northern New Jersey
By Marlaina Cockcroft
Commerce Park Investors has acquired a high-utility, standalone industrial facility in Rockaway Borough, in a deal arranged by Resource Realty of Northern New Jersey.
The 53,252-square-foot building at 36 Pine St. sits on 9.5 acres and offers two tailboard exterior dock doors, a drive-in bay and a 2,500-amp, 440-volt electrical system for heavy production loads. The space is ideal for intensive manufacturing, assembly or specialized logistics, according to a news release from Resource Realty announcing the sale.
Firm principals Greg Sabato and Scott Peck represented Commerce Park Investors in the deal, according to the release. The buyer, which paid an undisclosed sum, is based in East Hanover.
“This single-story property represents a unique opportunity for an operator requiring significant power infrastructure wrapped in a highly functional industrial footprint,” Sabato said. “Heavy power of this caliber — 2,500 amps — coupled with dedicated loading capabilities is an increasingly rare commodity in the northern New Jersey market. Securing this building underscores the sustained demand for spaces that can immediately accommodate a full range of manufacturing and technical requirements.”
Resource Realty, based in Parsippany, said the property was undergoing renovations to the exterior and interior, including the façade and mechanical systems, to update the 1952 building before the sale, according to its website.
Rockaway Borough, in Morris County, is near Interstate 80, Route 46 and Route 10, providing access to points across the tristate area and regional ports. The borough has grown into a thriving logistics and manufacturing submarket, according to the news release.
“As infill spaces closer to the ports face extreme density and rising costs, the Morris County industrial corridor has solidified its status as an elite tier-one alternative,” Peck said. “Rockaway provides the regional connectivity, skilled labor pool and highway infrastructure that growing firms require. At the center of that ecosystem is 36 Pine St., giving the future tenant a long-term operational advantage.”
