Hillside, N.J. – Zimmel Associates announces the sale of a 207,000 square foot, free-standing industrial building, located at 1319 North Broad Street in Hillside, New Jersey, for $30 million.
This highly desirable 2-story building sits on 4.40 acres and features 26 exterior dock doors, a 15-foot clear ceiling height, freight elevator, solar roof panels, and 223 parking spaces. In addition, it offers an ideal location, situated right off Route 22 in Hillside, 5.5 miles from Newark Liberty International Airport, close to ports in Elizabeth and Newark, and convenient to the Garden State Parkway, NJ Turnpike, and Routes 78, 1, and 9.
Thirteen years ago, the building was sold by Zimmel Associates to Sam Kirschenbaum of AH Realty Associates. Additionally, Zimmel Associates handled the lease of the building to Ferrara Trucking for the entire thirteen-year time span, which arranges transportation of freight and cargo. Since the lease term was coming to an end, the owner decided to place the building on the market for sale.
David Zimmel quickly and effectively marketed the building. “Lack of space, a great location, solar roof panels, and tremendous demand generated a lot of purchaser interest,” says Zimmel. “However, 1319 North Broad Street, LLC was able to close within 60 days, which gave them a leg up on other buyers.” The buyer, 1319 North Broad Street, LLC, purchased the building for $30 million and will be utilizing the building themselves for warehousing and distribution, represented by Ken Rubin of Rubin Realty.
UniPro International Uniforms, headquartered in Irvington, NJ, will be using the building for warehousing and the distribution of uniforms and accessories for law enforcement and security, transportation, and executive and career apparel, to name a few. They are adding this building to their two state-of-the-art distribution centers in Irvington, New Jersey, and Reno, Nevada. UniPro International Uniforms will now occupy 300,000 square feet of warehouse space.
AH Realty Associates, a long-time Zimmel Associates client, recently sold 600 Brighton Street in Bethlehem, Pennsylvania, which David Zimmel also handled. Zimmel Associates takes pride in the strong business relationships they build with all of their clients.
ABOUT ZIMMEL ASSOCIATES
Zimmel Associates is a full service corporate real estate brokerage firm that provides knowledge-driven real estate leasing, sales, consulting and property management services. Clients include owners, tenants, investors and developers. The firm is well known throughout New Jersey where they represent more than 5 million square feet of exclusive space. Zimmel Associates’ geographic scope also includes New York and Pennsylvania.