140-142 Clinton Road in Fairfield — Courtesy: Sheldon Gross Realty
By Joshua Burd
The Stro Cos. has acquired an industrial building in Fairfield for $8.75 million, in a newly announced transaction by Sheldon Gross Realty.
Located at 140-142 Clinton Road, the 77,983-square-foot property is just off Route 46 and minutes from Interstate 80. Sheldon Gross Executive Vice President Bob Nathin brokered the sale, noting that it comes about 17 months after he arranged a $34 million deal involving seven buildings throughout the township.
“In less than two years, we’ve sold nearly 400,000 square feet of commercial real estate in Fairfield,” Nathin said. “These deals demonstrate what an exceptional location this township is for a wide range of businesses. Fairfield offers exceptional warehousing, office and industrial structures in suburban Essex County, right on the border with Morris County, and a 30-minute drive from Midtown Manhattan. It doesn’t get much more attractive than that.”
The firm also noted that Sheldon Gross President Marcy Gross has managed 140-142 Clinton Road for more than two decades.
“Being responsible for maintaining and managing leases on these various Fairfield locations for more than two decades, we knew just about everything there was to know about them,” Gross said. “That made the various transactions reasonably straightforward, since we could quickly answer any question that arose.”