Canfield Property Group sells industrialflex property in Fairfield

Commercial real estate firm JLL announced it had completed the sale of an industrial/flex asset in Fairfield on behalf of Canfield Property Group.Commercial real estate firm JLL announced it had completed the sale of an industrial/flex asset in Fairfield on behalf of Canfield Property Group.

The 35,945-square-foot property located at 253 Passaic Ave. was sold for $4.15 million. Howard Weinberg, executive vice president for JLL and Ryan Bednarski, associate, represented the seller. Dearborn Realty, the buyer, was represented by Marc Trevisan and David Sherman, executive vice presidents at Cushman & Wakefield, and Slava Vaynberg, director.

“The property was an owner-occupied industrial/flex building that was kept in immaculate condition,” Weinberg said. “The one-story building was fully air conditioned and very well located. The buyer saw great value in 253 Passaic Ave.’s proximity to Routes 80, 46 and 23, and the Garden State Parkway.”

The property was constructed in 1973.

JLL maintains offices in Parsippany, Iselin and East Rutherford.