2 Gardner Road in Fairfield — Courtesy: Avison Young
By Joshua Burd
A security inspection systems firm has sold its headquarters in Fairfield and relocated to nearly 22,000 square feet in nearby Pine Brook, brokers with Avison Young announced recently.
The real estate services firm represented the user, Autoclear LLC, in the sale of 2 Gardner Road in Fairfield. Third Wayne LLC acquired the 42,000-square-foot industrial building for an undisclosed price.
Following the sale, Avison Young arranged for the Autoclear’s relocation and five-year lease at a new 21,888-square-foot facility at 10A Bloomfield Ave., about two miles away in Pine Brook. Jeffrey L. Heller, principal and New Jersey managing director for Avison Young, said the space will be the company’s new worldwide headquarters and used for production, warehousing, distribution and customer service.
The Avison Young team of Matthew C. Turse and Timothy J. Cadigan, both senior vice presidents, and Associate John Recchia represented Autoclear in both transactions. Steve Sander with Cushman & Wakefield represented Third Wayne during the sale.
“Avison Young developed a customized strategy for Autoclear to help the company successfully liquidate their asset and reinvest the capital into their business,” Turse said. “By reducing the size of their operation and selling their facility at 2 Gardner Road, Autoclear gained tremendous efficiencies and was able to capitalize on the strong market for investment sales in this highly desirable area.”
Autoclear was slated to occupy its new facility last month.
“This deal underscores the fact that demand by users to own a facility remains strong and that the New Jersey industrial market continues to stay very active, even in suburban areas,” Recchia said.