758 Lidgerwood Ave. in Elizabeth — Courtesy: Bussel Realty Corp.
By Joshua Burd
A nearly 10,000-square-foot industrial building in Elizabeth has traded for $2.2 million, in a newly announced transaction by Bussel Realty Corp.
The seller, Oliverino LLC, completed the deal as part of a plan to relocate and expand to a larger property, but needed additional time before vacating the property, according to a news release. An entity listed as Rock Bros LLC purchased the 9,950-square-foot building.
“Certain timeframes and deadlines were critical,” said Jordan Metz, a senior vice president with BRC. “Leveraging the intense market demand for well-located, functional industrial warehouse space, our team was able to secure multiple competing offers and negotiate a contract with almost no contingencies. Buyer and seller worked very cooperatively to overcome some obstacles and to ensure a successful and timely closing, which accomplished both party’s objectives.”
Metz represented both parties alongside Vice President Eric Koons and Sales Associate Benito Abbate. They noted that 758 Lidgerwood Ave. has two offices, a large showroom, a kitchen, a conference room and 20 parking spaces, among other features, while users are minutes from the New Jersey Turnpike, Route 1 & 9, the Goethals Bridge and Port Newark-Elizabeth.