35 Obrien St. in Kearny — Courtesy: Marcus & Millichap
By Joshua Burd
An investor has acquired a 135,000-square-foot industrial building in Kearny for more than $21 million, in a newly announced transaction by Marcus & Millichap.
The vacant property, located at 35 Obrien St., is home to a mix of warehouse, manufacturing and office space seven miles from New York City. Brokers also cited its location in a federally designated Opportunity Zone, which offers potential tax savings to longer-term investors.
Marcus & Millichap’s Mark Gjonbalaj, Alan Cafiero, Ben Sgambati and David Adjmi represented the seller in the $21.15 million deal.
“We facilitated 50-plus property tours and received over 20 offers on the property,” said Gjonbalaj, a first vice president for investments with the firm’s New Jersey office. “The property was delivered vacant at closing and a 40,000-square-foot parking lot across the street was included in the sale.”
In a news release, Marcus noted that the property has ceiling heights between 15 and 20 feet, nine loading docks, one drive-in door, two 10-ton cranes and 4,000 amps of electric service.
