1 Catherine St. in Teterboro — Courtesy: CBRE
By Joshua Burd
At least for 2017, industrial became the new darling of institutional investors.
That led to a windfall for owners and sellers of well-located warehouses and distribution centers in New Jersey, some of which commanded prices of more than $200 per square foot.
Here are the top 10 industrial sales in northern New Jersey of 2017, according to Real Capital Analytics.
(1) 1 Catherine St., Teterboro
Square feet: 156,256
Year built: 2015
Price: $35.5 million ($227/SF)
Buyer: Duke Realty
Seller: Catellus
(2) 350 Starke Road, Carlstadt
Square feet: 332,796
Year built: 2004
Price: $73 million ($219/SF)
Buyer: Bentall Kennedy
Seller: CIM Group
(3) 700 Commercial Ave., Carlstadt
Square feet: 105,400
Year built: 1969
Price: $21.28 million ($202/SF) [approximate]
Buyer: CenterPoint Properties
Seller: Atlantic Hoisting and Scaffolding
(4) 980 High St., Perth Amboy
Square feet: 1.3 million (three buildings)
Year built: 2016
Price: $237.36 million ($184/SF) [approximate]
Buyer: Duke Realty
Seller: Bridge Development Partners
(5) 1 Bell Drive, Ridgefield
Square feet: 278,300 (two buildings)
Year built: 2016
Price: $51.05 million ($183/SF) [approximate]
Buyer: Barings
Seller: Sitex Group
(6) 215 Blair Road, Avenel
Square feet: 175,182
Year built: 1970 (redeveloped)
Price: $29.2 million ($167/SF)
Buyer: N/A
Seller: Sitex Group
(7) 20 Commerce Way, Totowa
Square feet: 508,028 (13 buildings)
Year built: 1990
Price: $65.75 million ($129/SF)
Buyer: Heritage Capital
Seller: Mack-Cali Realty Corp.
(8) 250 Moonachie Ave., Moonachie
Square feet: 150,000
Year built: 1978
Price: $18.47 million ($123/SF)
Buyer: Liberty Property Trust
Seller: Alfred Knobler
(9) 13 Jensen Drive, Franklin
Square feet: 366,896
Year built: 2007
Price: $44.6 million ($122/SF)
Buyer: Cabot Properties
Seller: Prologis
(10) 77 Moonachie Ave., Moonachie
Square feet: 104,000
Year built: 1963
Price: $12.3 million ($118/SF)
Buyer: EverWest Real Estate Partners
Seller: Woodmont Properties
