By Joshua Burd
A natural and organic food distributor has purchased a nearly 71,000-square-foot industrial building in Moonachie, its second acquisition in the borough in some five months.
According to CBRE, which arranged the deal, Dora’s Naturals paid $20.9 million in the transaction at 80 Knickerbocker Road. It now owns three adjacent properties in the area, which is less than a mile from Route 17, including the 105,000-square-foot building at 210 West Commercial Ave. that it acquired in July for $31 million.
CBRE’s Kevin Dudley, Nicholas Klacik, Chad Hillyer, Kate Granahan, Brian Fiumara, Elli Klapper and Jeremy Wernick represented Dora’s Naturals in the most recent deal. KBC Advisors represented 7 Knickerbocker Road LLC, the seller of the 70,680-square-foot building.
“It was exciting to work with Dora’s Naturals founder and CEO Cyrus Schwartz and his team in solving their long-term space needs and witnessing the continued expansion of this family-oriented company,” Dudley said.
Built in 1985 on a 3.47-acre lot, the property at 80 Knickerbocker Road also provides easy access to a host of other highways, including routes 3 and 46 and the New Jersey Turnpike.
“These recent acquisitions are key to our core business of providing quality, perishable, natural, organic and specialty foods and beverages to retailers throughout the Northeast,” said Schwartz, the CEO. “The CBRE team truly understands our business and have put us in a great position to succeed in this key market.”
CBRE: Organic foods distributor buys 105,000 sq. ft. Moonachie warehouse for $31 million