419 Trumbull St. in Elizabeth — Courtesy: Team Resources Inc.
By Joshua Burd
An importing company has acquired a 16,200-square-foot industrial building in Elizabeth, under a newly announced transaction by Team Resources Inc.
The buyer, 419 Trumbull Street LLC, paid $2.15 million for the property at 419 Trumbull St. Team Resources’ Greg Sholom and David Cantor brokered the sale, noting that the buyer valued the site’s location near Port Newark-Elizabeth, major highways and the outer boroughs of New York City.
The property features 1,200 square feet of office space along with a tailboard and drive-in dock.
“This transaction got complicated because the pre-existing tenant wouldn’t move out, and COVID had the court system backed up, but in the end, the buyer and seller worked together to get the deal closed,” Sholom said.