341 Kaplan Drive in Fairfield — Courtesy: Saddleback Real Estate Developers
By Joshua Burd
A development firm led by two industry veterans has acquired two new warehouse properties just off Route 46 in Fairfield, the company announced Wednesday.
The firm, Saddleback Real Estate Developers, said the two acquisitions include a fully leased 22,000-square-foot asset at 22 Audrey Place and a 13,430-square-foot property at 341 Kaplan Drive. The latter purchase was followed by a total renovation.
Terms were not disclosed.
Saddleback owners Salvatore Frassetto and Terry Frassetto, who have more than 80 years of experience collectively, say they will continue to build their presence and expand their base of properties in New Jersey. The Rochelle Park-based firm expects to announce additional closings in the coming months.
“The purchase of these two industrial properties in Fairfield will be followed by other acquisitions,” Terry Frassetto said. “We are looking forward to increasing our portfolio in Fairfield and throughout New Jersey.
“We are proud New Jerseyans and proud to expedite quick closings in New Jersey’s industrial space market.”