417 Route 17 in Carlstadt — Courtesy: Stamp Holdings LLC
By Joshua Burd
A locally based investment firm has expanded its portfolio with the purchase of a 24,000-square-foot industrial building in Carlstadt.
The company, Stamp Holdings LLC, said the three-story building at 417 Route 17 represents a significant value-add opportunity in the booming last-mile logistics sector. A portion of the property is home to a tenant known as Hi-Pro Industries, while Guild+Facet, a manufacturing subsidiary of the buyer, will occupy another part of the building as part of a newly signed lease and an expansion.
In announcing the deal, Stamp Holdings said the property has flexible lease terms that provide it with multiple options for future tenants. The firm also touted the site’s ability to handle manufacturing and fulfillment functions, along with its ceiling heights of more than 30 feet and its proximity to interstates 80 and 95.
“We are really excited about this new acquisition,” Stamp Holdings CEO Peter Akguc said. “This property affords us the opportunity to capitalize on the region’s lack of inventory in the hot last-mile warehouse and distribution sector.”
Tony Nabhan of Keller Williams City Views Realty represented Stamp Holdings in the transaction, while CBRE’s Nicholas Klacik represented the seller. ConnectOne Bank providing financing, with Jose Rosario leading the origination effort.