7A Donna Drive in Wood-Ridge — Courtesy: Marcus & Millichap
By Joshua Burd
The longtime owner of a 15,000-square-foot warehouse in Wood-Ridge has sold the property for $3.7 million, brokers with Marcus & Millichap announced Tuesday.
The team said the property, located at 7A Donna Drive, sits within a light industrial park zoning district and is near major roadways such as interstates 95 and 80 and routes 46, 17 and 3. That helped drive interest in the building, which has two loading docks, 19-foot ceiling heights, one drive-in door and 15 parking spaces.
Mark Gjonbalaj and Alan Cafiero, investment specialists in Marcus & Millichap’s New Jersey office, represented the seller and buyer in the transaction. The names of the parties were not disclosed.
“This property received multiple bids within a short period of time after we launched marketing,” said Gjonbalaj, a first vice president of investments with Marcus. “Despite a challenging market, we were able to quickly procure the best buyer for this property and quickly move it towards a successful outcome for both buyer and seller. Well-located industrial assets in northern New Jersey continue to be viewed as a favored asset class.”
