333 North St. in Teterboro — File photo/Courtesy: JLL
By Joshua Burd
Principal Real Estate Investors has acquired a more than 221,000-square-foot warehouse in Teterboro for nearly $75 million, according to published reports this week.
The sellers, The Hampshire Cos. and Invesco Real Estate, completed the deal at 333 North St. some two years after acquiring it for $33.5 million, according to multiple outlets. CoStar News was the first to report the sale of the 221,448-square-foot facility, which has 22-foot clear ceiling heights, 15 dock-high doors, 11 drive-in doors and parking for 95 cars and 15 trailers.
JLL announced in spring 2023 that it had sourced $39 million in acquisition financing for Hampshire and Invesco, noting at the time that that North Street property was fully leased to Fashion Logistics. It said the location provides the third-party logistics firm, which specializes in warehouse management, distribution and supply chain management services for the lifestyle and fashion industries, with a prime Bergen County location.
TradedNJ also reported on the deal with Principal Real Estate Investors.
JLL: Hampshire, Invesco land $39 million acquisition loan for Teterboro industrial deal
