404 Sette Drive in Paramus — Courtesy: The STRO Cos.
By Joshua Burd
The STRO Cos. has purchased a nearly 53,000-square-foot commercial building in Paramus, in a transaction arranged by Jeffery Realty.
In announcing the deal, the Ridgewood-based buyer said the property at 404 Sette Drive sits at the crossroads of Route 17, Route 4 and the Garden State Parkway, making it an attractive location for future tenants. Jeffery Realty’s Bill Farkas represented both parties in the trade of the 52,800-square-foot property.
Terms were not disclosed.
“Given the strong demand for product like 404 Sette Drive, we see this building as a core hold,” said Jeffrey Buchman, STRO’s chief operating officer. “Proximity to major highways and the affluent residential areas surrounding Paramus make 404 Sette a second-to-none location.”
Jack Shulman, STRO’s director of acquisitions and capital markets, said the firm remains an active buyer in the market.
“This is a phenomenal location and an incredible property,” he said. “We are appreciative to the seller and the broker, Bill Farkas of Jeffrey Realty, for bringing this transaction to a successful close.”