160 Belmont Ave. in Garfield — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has paid more than $1.6 million to acquire a 23,154-square-foot industrial property in Garfield, Marcus & Millichap said Thursday.
In a news release, the firm said brokers in its Saddle Brook office represented both sides in the sale of 160 Belmont Ave. The team of Ben Sgambati and Alan Cafiero, investment specialists for Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, an unnamed partnership.
Cafiero and Sgambati, along with Steve Marani, also secured and represented the buyer.
The first floor is about 13,354 square feet of light industrial space, with two drive-in doors and a ceiling height of about 13 feet, the firm said. The second floor is about 8,800 square feet of office space, including offices and several conferences rooms, along with a reception area, kitchen and seating area.