480 Lalor St. in Trenton — Courtesy: NAI Fennelly
By Joshua Burd
A company that makes survival products has sold its Trenton manufacturing facility for $1.8 million, in a sale-leaseback deal announced Thursday by NAI Fennelly.
Brokers with the firm represented the seller, Switlik Survival Products Inc., in the transaction at 480 Lalor St. A buyer listed as Howco Management purchased the 27,362-square-foot facility, which the manufacturer will lease back until it moves to a new space in 2023.
NAI Fennelly President Jerry Fennelly and Sales Associate Matt Fennelly completed the assignment. They said the building, located on southern edge of Trenton, has 12-foot clear ceiling heights, one loading dock, a 10-foot-by-12-foot chemical storage room, 900-amp power and a gated parking lot with direct access to Route 29.
It’s also within an Urban Enterprise Zone, making it eligible for state tax benefits, and is minutes from Routes 1, Interstate 195 and the New Jersey Turnpike.
“The competitive industrial market and the Urban Enterprise Zone program have helped breath a second life into the many well located industrial properties found across Trenton,” Matt Fennelly said. “Through partnering with an experienced and knowledgeable real estate solutions provider, owners can identify the potential of these unique, well-located factories and capitalize on the strong market conditions to create value from their assets through both strategic sales and leasing efforts.”
