November 27, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $51 million sale of 700 Union Boulevard, a 382,596-square-foot, newly constructed industrial building in the Northern New Jersey community of Totowa, New Jersey.
The HFF team marketed the property on behalf of the seller, The Hampshire Companies. The property was marketed along with a $146.85-million, six-building industrial portfolio totaling 1.2 million square feet in Northern New Jersey, the sale of which was closed by HFF in 2017.
Situated on 26 acres, 700 Union Boulevard is just off Interstate 80 and less than 13 miles from the New Jersey Turnpike, which provides easy access to the rest of the northern part of New Jersey and New York City. The single-story building was completed in 2018.
The HFF team included executive managing director Joe B. Thornton, Jr., senior managing directors Jon Mikula and Jose Cruz and directors Marc Duval and Jordan Avanzato.
“We continue to see investor interest in high quality and well-located industrial assets throughout the state,” Cruz said. “This closing completes the acquisition of the portfolio.”