657 Union Blvd. in Totowa — Courtesy: Team Resources Inc.
By Joshua Burd
An affiliate of Snowball Developments LLC has acquired a 52,000-square-foot industrial building in Totowa, brokers with Team Resources Inc. announced last week.
According to a news release, the Brooklyn-based buyer saw the deal at 657 Union Blvd. as a chance to break into the highly sought-after Totowa-area market. It now plans to upgrade and lease the property, capitalizing on its location directly off Route 46 and Interstate 80’s Exit 55, with plans to market the three-acre site to manufacturing and distribution users with local, regional and national customers.
Team Resources Vice Presidents Jason Levy and Jeffrey Fulton brokered the sale and are now spearheading the leasing effort. Terms of the trade were not disclosed.
“This property adds to Snowball’s growing presence in northern New Jersey as a light industrial owner (and) operator,” Levy said.
