396 Littleton Ave. in Newark — Courtesy: The Blau & Berg Co.
By Joshua Burd
The longtime owners of a 12,000-square-foot industrial building in Newark have sold the facility, according to a brokerage team with The Blau & Berg Co.
The property, 396 Littleton Ave., is adjacent to Springfield Avenue and is minutes from Garden State Parkway Exit 144, Newark Penn Station, Interstate 78 and Newark Liberty International Airport. That helped drive interest in the facility and led to the completed deal between the private seller and the unnamed buyer, which will use the facility for warehousing and distribution.
Blau and Berg’s Jason Crimmins, Alessandro (Alex) Conte, Peter Murano and Dylan Meade represented the seller, noting that the building has an 8,500-square-foot first-floor warehouse and a 3,500-square-foot mezzanine office. Zehava Wiesner of Keller Williams Realty Monmouth/Ocean represented the buyer.
Terms were not disclosed.
“This property had been family-owned for a long time,” said Meade, a senior associate with Short Hills-based Blau & Berg. “We used an aggressive, collaborative approach knowing there is significant interest in industrial properties in this size range, provided you market to the right people. Location is an increasingly valuable commodity as distribution dynamics evolve, so we were pleased to garner interest and a sale on behalf of our client in just a few short months.”
