2 Terminal Road in Lyndhurst — Courtesy: Woodmont Industrial Partners
By Joshua Burd
Woodmont Industrial Partners has added to its holdings with the purchase of a 30,000-square-foot warehouse and distribution facility in Lyndhurst.
The firm on Tuesday said the property, 2 Terminal Road, is available for lease. The Woodmont Properties affiliate acquired the building from an undisclosed seller, touting its location near routes 3 and 17 and features such as 18-foot ceiling heights, two loading docks and two drive-in doors.
Michel Schaible and Troy Wisse of Lee & Associates New Jersey represented Woodmont in the deal and will market the property for lease. Terms were not disclosed.
“With its ideal location amidst several of New Jersey’s main thoroughfares, the Meadowlands submarket continues to experience a high demand for quality industrial space, particularly from companies looking to establish last-mile delivery operations,” said Anthony Amadeo, executive vice president of Woodmont. “We’re excited to begin the redevelopment of 2 Terminal Road, and to continue to expand our industrial portfolio in major corridors throughout the United States.”
Woodmont, which has been actively developing and acquiring industrial property in New Jersey and elsewhere, noted that vacancy in the Meadowlands submarket is below 2 percent.
“We are pleased to continue our investment in New Jersey’s Meadowlands,” said Steven Beyda, senior vice president of industrial acquisitions at Woodmont. “Situated just a few miles outside of New York City, the Meadowlands submarket is attractive to industrial warehouse and distribution tenants in search of strong labor, proximity to densely populated areas, and a nearby diversified business base.”