By Joshua Burd
The Stro Cos. has added to its holdings in Clifton with the acquisition of a two-building, 55,000-square-foot portfolio in the city.
The firm on Friday announced its purchase of 499-515 River Road, which includes a 30,000-square-foot light industrial warehouse and a 25,000-square-foot truck terminal. The buildings are fully leased to tenants ranging from 5,000 to 25,000 square feet and offer easy access to routes 21 and 3 and the Lincoln Tunnel.
Stro, which is based in Ridgewood, said it will continue to seek acquisitions in the “prosperous yet challenging market.” The company owns two other occupied properties in the immediate area: 174 Delawanna Ave. and 60 Entin Road.
“These two properties align perfectly with our acquisition criteria and allow us to grow our already strong footprint in the Clifton submarket,” said Todd Minerley, the firm’s director of acquisitions and leasing. “We are one of the most active investors in the New Jersey market resulting in our portfolio doubling in just over four years.
“The River Road properties will be our fourth acquisition in the last nine months.”
