256 and 270 Sheffield St. in Mountainside — Courtesy: Avison Young
By Joshua Burd
An investor has sold a two-building, 80,000-square-foot industrial portfolio in Mountainside for $16.2 million, in a newly announced deal by Avison Young.
Brokers say the properties, at 256 and 270 Sheffield St., are fully leased to an e-commerce retailer and a printing company. Each is a long-term tenant that uses the site as its headquarters.
Avison Young Managing Director and Principal Jeff Heller and Steven Geltzeiler, a senior vice president with the firm, represented Brookrace Properties LLC in the sale. They also represented the buyer, Snowball Development Inc.
“This is the second time in the last four years that we have arranged the sale of these buildings,” Heller said. “The demand for industrial property in northern New Jersey continues to remain strong as demonstrated in this sale through the high level of interest by the investment community and multiple bids received by potential buyers.”
