7 Industrial Parkway in Livingston — Newmark Associates
By Joshua Burd
Newmark Associates is touting the lease-up of a newly built, 41,250-square-foot flex industrial building in Livingston.
In a news release, the firm said it has fully leased all 30 units in the building at 7 Industrial Parkway, which sits off Route 10 in the township. Each unit measures 1375 square feet and includes a small office area, bathroom, open warehouse space and drive-in door loading.
The tenant uses at the property include inventory storage, electrical contracting, a machine shop, logistics and distribution, the news release said. The firm added that many of the tenants are local and wanted a location in close proximity to where they live.
Newmark Associates’ Deborah Myers, managing director and broker associate, and Charles Ritschel, senior sales associate, represented ownership. They touted the building’s ample parking and the demand for smaller units.
Myers also represented the owner, a longtime client, when he originally bought the property.
“With the industrial/flex market being a highly ‘in demand’ asset class, having newly constructed smaller units (with the ability to assemble additional units for more space) with drive-in loading and available parking, allowed us to fully lease the building in less than nine months,” Myers said.