By Tina Traster
Marcus & Millichap has negotiated the sale of a nearly 74,000-square-foot flex industrial property in Totowa for $7.6 million.
Built in 1940, the complex has 61,262 square feet of warehouse space and 12,656 square feet of finished office and showroom space, boasting a location near Interstate 80 and Route 46, according to a news release. Marcus & Millichap’s Alan Cafiero, Douglas Struyk, Jonathan De La Rosa and Mark Gjonbalaj marketed the property at 601-605 Union Ave., representing two private LLCs in the deal.
“The property generated many competitive offers and was ultimately sold to a long-term investor,” Gjonbalaj said.
Tina Traster is a freelance writer and the editor of Rockland County Business Journal. She is also a former business writer for Crain’s New York Business, real estate writer for the New York Post and staffer at the Bergen Record.
