15 Law Drive in Fairfield — Courtesy: The STRO Cos.
By Joshua Burd
The STRO Cos. has refinanced a 78,000-square-foot industrial building in Fairfield with a $13.5 million loan from City National Bank, the Ridgewood-based firm said Monday.
The operator, the real estate arm of the Millstein family office, noted that 15 Law Drive is leased on a long-term basis to Showman Fabricators. The deal comes two years STRO acquired the property off Route 46, which also has 18-foot clear ceiling heights, one drive-in, four docks and ample parking for trailers and employees.
The firm’s Jack Shulman represented ownership in house.
“We are pleased to have worked on another transaction with City National Bank,” said Shulman, STRO’s senior director of acquisitions and capital markets. “City National Bank has become a valued partner because of their ability to move quickly and provide a smooth path to closing. The CNB team was great to work with and we look forward to doing more business with them in the foreseeable future.”
Stro adds 77,000 sq. ft. value-add industrial building in Fairfield
