133 Terminal Ave. in Clark — Courtesy: Zimmel Associates
By Joshua Burd
Affiliates of Denholtz Properties have sold more than 75,000 square feet of flex industrial space in Clark, under a deal arranged by Zimmel Associates.
In a news release, the brokerage firm said the portfolio comprises freestanding buildings at 133 and 159 Terminal Ave., both of which are leased by Loreal USA through July 2024. An undisclosed buyer paid more than $11 million for the properties, Zimmel said, touting Clark’s location just off the Garden State Parkway and its access to other major highways.
“We are thrilled to have facilitated the sale of these two outstanding properties on behalf of our client,” said David Zimmel, president of Zimmel Associates. “Our team worked diligently to market the properties and attract qualified buyers, ultimately securing a deal that was a win-win for all.”
According to the brokerage firm, 133 Terminal Ave. is a 41,247-square-foot building sitting on five acres, featuring a mix of office and industrial space with three loading docks and a clear ceiling height ranging from 16 feet to just under 17 feet. The second property, a 34,106-square-foot warehouse and distribution center on 2.14 acres, has three loading docks and a clear ceiling height of 17 feet, 3 inches.
The air-conditioned buildings were among several in the area owned by Red Bank-based Denholtz, Zimmel added, noting that the buyer had purchased another nearby property. Loreal will vacate the spaces next summer when it relocates to a new U.S. headquarters across the street.
