94 Stokes Ave. in Ewing — Courtesy: NAI Fennelly
By Joshua Burd
A wholesaling business is expanding to Mercer County after acquiring a 48,000-square-foot industrial building outside Trenton, in a deal arranged by NAI Fennelly.
Brokers with the firm represented Pat Napatano, the seller of the property at 94 Stokes Ave. in Ewing, in the transaction with an undisclosed, Brooklyn-based buyer. NAI Fennelly closed the deal within 35 days of taking on the assignment, touting the building’s location near routes 1, 29 and 31 and its appeal to a range of end users.
Jerry and Matthew Fennelly completed the $600,000 sale.
“Due to the extreme demand for New Jersey warehouse space, the pricing velocity continuously fluctuates and deals often take months to come to a close as buyers fight each other for a few extra cents per square foot,” Jerry Fennelly said. “This deal speaks to our firm’s ability to get deals done quickly while still realizing the full value of the property for the seller. It is exciting to see this historic building begin its next chapter and to have helped my client accomplish their real estate goals ahead of schedule.”
In a news release, Fennelly said 94 Stokes Ave. is a four-story building that dates back to 1940. The structure, which started as a propulsion laboratory for the U.S. Navy during World War II, features parking, 10-foot ceiling heights, two drive-ins and a loading dock.
