NAI Fennelly racked up three Mercer County sales in the industrial sector this week for a cumulative $3.33 million and approximately 41,000 square feet.
Switlik Survival Products plans to leave its current location in 2023, according to NAI Fennelly, which represented the company in a sale-leaseback for its 27,362-square-foot industrial building in Trenton.
The firm announced the $1.8 million sale of 480 Lalor St. Nov. 17. President Jerry Fennelly and Sales Associate Matt Fennelly represented the seller; the buyer was Howco Management of Lawrenceville.
The manufacturer enlisted NAI Fennelly to market the property for sale, looking for a buyer interested in a sale-leaseback that would keep Switlik in the space until its planned exit.
According to NAI Fennelly, Switlik has plans to move into a new, 22,000-square-foot location.
Located within an Urban Enterprise Zone, 480 Lalor St. includes 12-foot clear ceilings, one loading dock, a 10-foot by 12-foot chemical storage room, 900-amp power and a gated parking lot. Along with direct access to Route 29, the property is close to Route 1, Interstate 195 and the New Jersey Turnpike.
“The competitive industrial market and the Urban Enterprise Zone program have helped breath a second life into the many well located industrial properties found across Trenton,” said Matt Fennelly, the firm’s industrial specialist. “Through partnering with an experienced and knowledgeable real estate solutions provider, owners can identify the potential of these unique, well-located factories and capitalize on the strong market conditions to create value from their assets through both strategic sales and leasing efforts.”
In Ewing, less than 5 miles from downtown Trenton, NAI Fennelly said Nov. 15 it represented Bregenzer Properties LLC in the sale of two industrial buildings – with a combined 13,900 square feet – to Industry Court LLC for $1.53 million.
Located at 4 and 8 Industry Court, the former property is a one-story, 9,900-square-foot building with office space, two drive-in doors and 400-amp power. Next door, 8 Industry Court is a 4,000-square-foot office and warehouse building with 3,200 square feet of office space, a reception area, four private offices, a conference room, storage and a kitchenette in addition to 800 square feet of airconditioned, outside warehouse space and a storage lot with automatic gate.
“Today’s industrial buyers generally are looking for two things,” said Matt Fennelly in a statement. “They want locations that offer easy access to their clientele and adaptable space that can fit the unique needs of their businesses. We’re happy to provide the services needed to properly position these properties in the market on behalf of our clients and help them secure a buyer in the competitive marketplace.”
According to NAI Fennelly, that strategy employed a data-driven marking plan to promote the space’s availability, turning out numerous prospective buyers. But, in the end, the purchaser of the property came from close to home, being an existing tenant of both buildings.
Trenton in the news
- 160 residential units sell for $20.5M
- Industrial buildings change hands for $1.53M
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