550 County Ave. in Secaucus — Courtesy: Marcus & Millichap
By Tina Traster
Marcus & Millichap has negotiated the sale of a 10,000-square-foot office and warehouse property in Secaucus for $1.9 million.
Christopher Kallensee and John A. Sala, investment specialists in the firm’s New Jersey office, listed the property at 550 County Ave. on behalf of a private investor. They also represented the buyer, whose name was also not disclosed.
“This was a smooth transaction from start to finish,” Kallensee said. “Utilizing our connections and our company’s platform we were able to expose the property to over 50 interested parties from in-state buyers, out-of-state buyers, as well as interest from a company who solely operates in Canada. Ultimately our marketing process generated enough competition from a variety of different buyers that we were able to close at this price and within seven months.”
Marcus noted that 550 County Ave. was partially vacant at the time of the sale, with a tenant leasing roughly 25 percent of the building. The property, which is minutes from New York City and the New Jersey Turnpike, has a new roof and HVAC system that were installed in 2019.
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.
