1578 Sussex Turnpike Building 1 in Randolph — Courtesy: SL Industrial Partners
By Joshua Burd
SL Industrial Partners has acquired a 165,000-square-foot industrial property in Randolph, giving it full ownership of a six-building complex totaling more than 900,000 square feet.
The firm announced the deal this week, noting that 1578 Sussex Turnpike Building 1 is cross-docked and has 67 doors with 40- and 60-foot speed bays, making it suitable for high-volume operations. The property also has 30-foot clear ceiling heights and column spacing of 50 feet by 50 feet, while providing an abundant amount of trailer and auto parking spots for large-scale logistics operations.
It added that the facility, part of the multitenant Morris Business Park just off Route 10, has potential on-site rail service connectivity.
“This acquisition represents a valuable addition to our growing industrial portfolio in northern New Jersey and completes the MBP,” said Toby Nelson, vice president of leasing for SL Industrial Partners, a member of the Silverman Group. “The opportunity for immediate occupancy, size, cross-dock capabilities and the potential for rail connectivity make this facility an exceptional option for tenants looking for operational efficiency and strategic access to major transportation routes. We are excited to offer this space to companies seeking a high-quality facility in an unmatched location.”
The firm, meantime, cited the park’s proximity to highways such as routes 10, 46 and 206 and Interstate 80. Nelson and SL Industrial Partners’ Joe Ratner are handling leasing in-house.
