NAI James E. Hanson on said Tuesday it negotiated the sale a 10,400-square-foot spec industrial building in Sparta.
Located at 7 Aaron Way in the White Lake Commerce Park, Hanson’s John Schilp represented the seller, JAM Properties, in the NAI James E. Hanson exclusive transaction. In March, a Morris County-based developer, purchased the land at 2 and 4 Aaron Way to transform it into a 30,000-square-foot spec warehouse.
Occupying 31.54 acres along the New York Susquehanna and Western Railway freight rail line just off of Route 15, the property is made up of 12 subdivided fully improved lots in Sussex County.
Situated 12 miles from Interstate 80 and less than 5 miles from Route 206, the property’s accessibility makes it ideal for a range of industrial uses.
Completed earlier this year, the 10,400-square-foot industrial building has a modern design with 20-foot clear ceilings and eight overhead doors.
A local business occupying a smaller space in Sparta was hoping to purchase a larger building for its growing business. Although 7 Aaron Way was originally offered only for lease, NAI Hanson’s Schilp was able to able to work closely with building ownership to assist in arriving at a sale of the building.
Schilp was retained in 2019 to facilitate the sale of the 12 lots making up the White Lake Commerce Park. With the sale of the last lot closing in late March, Schilp has now brought several developers to the White Lake Commerce Center to construct spec industrial buildings ranging in size from 10,000-30,000 square feet.
JAM Properties’ Principal Joe Maggio was the first developer to construct a building at the White Lake Commerce Park. That building, 5 Aaron Way, is now fully leased and occupied. The sale of 7 Aaron Way marks the second building successfully delivered at the site. Maggio is currently in the planning stages for the construction of another industrial building at the White Lake Commerce Park with estimated delivery in late 2020 or early 2021.
Currently, there are industrial and flex leasing opportunities ranging from 5,000 to 27,000 square feet in the White Lake Commerce Park. More information on land sales or leasing is available from Schilp at (973) 463-1011 ext. 174 or firstname.lastname@example.org.