31 and 35 Styertowne Road in Clifton — Courtesy: Cushman & Wakefield
By Joshua Burd
Longpoint has sold a more than 97,000-square-foot industrial portfolio in Clifton to The Silverman Group, brokers with Cushman & Wakefield announced Monday.
According to a news release, the two-building property at 31 and 35 Styertowne Road is fully leased to multiple tenants and benefits from a location just off Route 3 and near other major highways. That provides an attractive option with multiple suite sizes, catering to the strong demand from local and regional industrial users.
Cushman’s Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema represented the seller of the 97,145-square-foot complex, noting that the 4.5-acre site is within a 90-minute drive of 21 million consumers. Terms were not disclosed.
“This transaction underscores the strength of investor appetite for well-located industrial assets in core northern New Jersey,” said Gabriel, a vice chairman with C&W. “Route 3 Industrial Park offers immediate connectivity, stable tenancy and long-term upside, making it a standout opportunity in a supply-constrained market.”
Blake Silverman, president at The Silverman Group, added: “The acquisition of this portfolio represents the continued growth of our industrial platform and increased appetite for shallow bay value-add product. We continue to look for valued opportunities in this area, and we are excited to work with the Cushman & Wakefield team on this opportunity.”
