By Joshua Burd
Terreno Realty Corp. has added to its New Jersey industrial holdings with the acquisition of a nearly five-acre parcel in Carlstadt.
The Bellevue, Washington-based firm said Monday that it paid $17.9 million for the property at 245 Paterson Plank Road, citing its location directly adjacent to a building it owns on Michele Place. The property, which is vacant, also benefits from a location near the Meadowlands Sports Complex, American Dream and Exit 16W of the New Jersey Turnpike.
NAI James E. Hanson’s Scott Perkins and Chris Todd represented Terreno in the transaction with an undisclosed seller. Other details about the property were not immediately available Monday.
