NAI James E. Hanson’s Ken Lundberg, Darren Lizzack, Randy Horning, Pat Lennon, and Lorenzo Lambiase represented the seller, Challenge Partners LLC, in the transaction with 3 V Co.
Founded in Brooklyn in 1941, 3 V produces and distributes nutritionally balanced fruit-based beverages. Continuing to call Brooklyn home, the company hoped to bolster its administrative and manufacturing capacity through the purchase of a well-located, adaptable, and modern industrial building in northern New Jersey. 3 V Co. recognized the property as an ideal acquisition opportunity in the current market.
Located at 9 Bridewell Place, the property features 11,102 square feet of office space, up to 23-foot ceilings, and three tailgates. The site also recently underwent a substantial capital improvement project to replace the roof, mechanical systems, and floors with the goal of bringing the building up to modern industrial standards.
In addition to a modern and adaptable design, the building also boasts a strategic location just off of Route 3 with easy access to the New Jersey Turnpike, Garden State Parkway, and Routes 17 and 21.
“Although large institutional acquisitions continue to define the industrial marketplace, end-users like 3 V Company are also continuing to aggressively pursue acquisition opportunities to ensure they can secure long-term homes in this important market,” said Lundberg. “Our industrial team takes great pride in our ability to strategically target both types of buyers and help our clients attract fair market value for rare assets like 9 Bridewell Place.”