8 York Ave. in West Caldwell — Courtesy: NAI DiLeo-Bram & Co.
By Joshua Burd
A global bakery chain has acquired a 30,00-square-foot light industrial building in West Caldwell, in a transaction arranged by NAI DiLeo-Bram & Co.
According to the brokerage team, 85°C Bakery Café will use the space at 8 York Ave. as its primary warehousing and storage facility for servicing retail-store openings that are part of its East Coast expansion. Those include two retail locations in Cherry Hill and East Hanover that are set to debut this fall.
NAIDB Chief Operating Officer David A. Simon and Associate Vice President Kyle Gerace represented 85°C Bakery Café in the deal. They noted that the gourmet pastry, coffee and tea chain, which is based in Taiwan, has opened 70-plus cafes across the United States, including Washington, Oregon, Nevada, Utah, Texas, Hawaii, Arizona and California, since 2008.
An electronic parts and accessories distributor is the single-story property’s former occupant.
Terms of the sale were not disclosed.
“Situated in a corporate park-caliber setting, 8 York Avenue is well positioned in the heart of northern New Jersey, just about 25 miles west from NYC,” Gerace said. “The property posed a rare opportunity for a user/investor like 85°C Bakery Café to acquire an industrial asset within one of the area’s most sought-after commercial corridors.”
NAIDB added that other building features include a new roof, new LED office and warehouse lighting, ceiling heights above 23 feet and five tailgate loading doors.
“Our client will be able to use the property as a commercial kitchen for baking fresh and storing finished product,” Simon said. “Within minutes from I-80, I-280, U.S. 46 and Route 23, the property offers excellent transportation capabilities.
“This buyer’s in-house real estate and due diligence professionals, along with its third-party legal and consulting advisors, worked persistently to help conclude this transaction. We are fortunate to have partnered with everyone involved and it was a true collaborative effort.”
The brokers added that 85°C Bakery Café — which was established on the premise that 85 degrees Celsius or 185 degrees Fahrenheit is the optimal temperature to serve coffee — opened its first U.S. store opened in 2008 and its first central kitchen in 2013. In addition to selling coffee, tea and cakes, each 85°C Bakery Café offers desserts, smoothies and an extensive menu of bakery products.
