Ludlow Industrial Park at 140, 150 and 170 Ludlow Ave. in Northvale — Courtesy: Cushman & Wakefield
By Joshua Burd
A fully leased, three-building industrial complex in Bergen County has traded for $27 million, under a newly completed transaction by Cushman & Wakefield.
Brokers with the firm represented an undisclosed seller in the transaction at 140, 150 and 170 Ludlow Ave. in Northvale, which total 193,235 square feet. The team announced the deal Wednesday, touting its location less than 20 minutes from Interstate 87, the Garden State Parkway and other highways.
“We received significant interest from investors and users for this asset,” C&W’s Gary Gabriel said. “This sale is indicative of the unabated demand for functional, infill real estate.”
Gabriel brokered the sale alongside Kyle Schmidt, Chuck Fern, Tom Tucci and Eli Millstein. They noted that the property, known as the Ludlow Industrial Park, is fully leased to RAB Lighting and features 21 loading positions, 228 car parks and varying ceiling heights up to 33 feet.
C&W also said the property is accessible to 4.5 million consumers within a 15-mile radius.
“Ludlow Industrial Park is ideally positioned to capitalize on the continued strength of e-commerce user demand,” Fern said. “Occupiers will also benefit from the property’s incredible northeast regional access.”
