133 Bauer Drive in Oakland — Courtesy: Thurston Group LLC
By Joshua Burd
A nearly 38,000-square-foot building has changed hands in a Bergen County industrial park, in a newly completed deal by Thurston Group LLC.
The firm announced Monday that an undisclosed buyer acquired the property, 133 Bauer Drive in Oakland, within the Oakland McBride Business Park. Located near Interstate 287, the 37,500-square-foot building features 20- to 22-foot clear ceiling heights with two dock doors and one drive-in door.
Thurston Group Managing Director David E. Thurston represented the seller, noting that the buyer was a company that is consolidating from several locations in New Jersey. Terms were not disclosed.
“With over a dozen written offers and several dozen very interested buyers direct and from over 30 brokers, the strength of the industrial market remains strong,” Thurston said. “Widespread marketing solicited offers from four of the five (New York City) boroughs and upstate (New York) as well as northern and central New Jersey.”
He added that the building sold for more than $30 per square foot more than any other building in the park, including those that were tenanted, “which is an indication of the motivation of buyers in the industrial market and particularly users.”
