As it continues to expand its presence in North Jersey, Faropoint is adding another two industrial properties in the Meadowlands – home to Biazzo Dairy Products Inc. – to its portfolio.

On April 25, the Hoboken-based real estate investment firm announced it completed the acquisition of two Class B buildings, located at 1145 Edgewater Ave. and 1125 Hendricks Causeway in the Ridgefield submarket, representing a cumulative 113,979 square feet. According to Faropoint, the deal offers stability for it and the tenant, in addition to providing a competitive return on investment.

Biazzo is a privately held producer and distributor of dairy products, namely mozzarella and ricotta cheese.

The deal, Faropoint said, was negotiated as a long-term, market-rate sale-leaseback with Biazzo, which has worked from the properties for more than 30 years. The buyer described the tenant as a “well-established organization with strong private credit, and a reputable brand in the industry.”

“This transaction is an exciting continuation of Faropoint’s core location acquisition strategy, in particular due to its limited term risk, which should translate to superior risk adjusted returns,” Orry Michael, director of acquisitions, Greater New York at Faropoint, said in a statement. “With a track record as a well-capitalized firm with a long-term view, Faropoint is competitively positioned to provide liquidity for similar opportunities that, as a result of cyclical fluctuations, other capital sources might not be able to pursue.”

Viewpoint Advisors represented Faropoint as the buyer in the transaction, with brokers Frank Costa III, Jim Isbell and Brian Sherlock facilitating the sale.

“Our firm’s established presence in the Greater New York and New Jersey metros and our relationships on the ground allowed us to close this deal at a very attractive price point relative to other comparable property sales and land sales in the area,” said Itay Ron, Faropoint market officer, Northeast Region. “Given the infill location and the long-term lease in place, we see this as a defensive acquisition that will still benefit from the secular tailwinds in industrial real estate without the short-term volatility.”

“With the industrial market being the crown jewel for commercial real estate investments, and in concert with the cost of capital, opportunities that make sense are limited and challenging,” Costa, managing principal at Viewpoint Advisors, said in a statement. “The compressed due diligence and complex transaction structure of sale-leasebacks means coordination is the key to success. Viewpoint Advisors strategically elected to represent Faropoint upon comprehending the seller’s goals, and it was a pleasure to work with a buyer of their caliber.”

The building at 1145 Edgewater Ave. serves as Biazzo’s main processing and production plant, according to Faropoint. Among its features are: 57,599 total square feet, 15,000 square feet of freezer and cold space, 20-foot clear ceiling heights, and six dock-high loading positions. At the 56,380-square-foot 1125 Hendricks Causeway there are 15-foot-8-inch clear ceiling heights. The property is equipped with five front-loaded dock-high positions for out-bound distribution to Biazzo’s local and regional customer base, Faropoint said.

The properties offer easy access to major transportation hubs, located within minutes of Interstate 95 and 80, the New Jersey Turnpike, Route 46 and the George Washington Bridge.