By Joshua Burd
Marcus Partners has added to its holdings in northern New Jersey with the purchase of more than 110,000 square feet of industrial space in Boonton.
Based in Boston, the investment firm paid an undisclosed price for the property at 100 Fulton St. It noted that the 111,548-square-foot facility will soon be vacant, while touting the appeal of ceiling heights ranging from 29 to 35 feet and up to 1.75 acres of outdoor storage on the site.
Binswanger represented the undisclosed seller, while Lerman Sanders Realty represented Marcus Partners.
“This asset has several compelling characteristics that are not commonly seen in this market,” said Todd Minerley, senior vice president of Marcus Partners. “The combination of size, ceiling height and outdoor storage area are major differentiators for 100 Fulton. We are excited to add this asset to our growing portfolio in northern New Jersey and believe 100 Fulton will be a preferred option for prospective tenants.”
Built in the 1970s, the single-tenant structure includes 7,500 square feet of recently updated office space, according to a news release. The property also has ample parking, an abundance of loading, 2,000 amps of power, outdoor storage and a location near major highways such as Route 202 and Interstate 287.
