39 Robinson Road in Lodi — Courtesy: NAI James E. Hanson
By Joshua Burd
A fashion company has acquired a nearly 75,000-square-foot industrial building in Lodi, which it plans to use to both fulfill its e-commerce business and support a retail location in Manhattan.
Brokers with NAI James E. Hanson on Tuesday announced that AEW had sold the property, 39 Robinson Road, to Mood Fabrics for an undisclosed price. Representing the seller, the brokerage team touted the deal as a sign of the continued demand for well-located industrial properties in Bergen County, even as sellers enjoy record prices.
Mood Fabrics sells quality fabrics to customers ranging from high-profile celebrities to everyday consumers searching for unique and fashionable designs, according to a news release. Its acquisition of 39 Robinson will help feed the company’s retail location at 225 West 37th St., in addition to fulfilling online orders for customers throughout the region.
NAI Hanson’s Scott Perkins, Andrew Somple, Greg James, Christopher Todd and Justin Allessio completed the 73,373-square-foot transaction.
“What we are seeing in the Bergen County industrial market right now is a textbook definition of supply and demand in action,” Somple said. “Elevated demand from e-commerce retailers and distributors coupled with a limited supply of land and space, has led to record high sales prices for quality industrial assets like 39 Robinson.
“Despite high pricing, buyers continue to invest in the market and we were honored to work with AEW to market this building to secure a premium price in line with this asset’s value.”
Sitting on 3.21 acres, 39 Robinson Road has 29-foot clear ceilings in 16,447 square feet of the building and 14-foot clear through the remaining 56,896 square feet, the news release said. The building features three tailgates and three drive-ins, boasting a location just off Route 17 with proximity to Interstate 80, Route 46, the Garden State Parkway and the New Jersey Turnpike.
