Chief Operating Officer David Simon and Associate Kyle Gerace represented the seller in the transaction.
Chez Eider, senior associate of investment sales in the firm's New Jersey office, and Andrew Townsend, vice president of investments in its Philadelphia office, had the exclusive listing to market the property on behalf of the seller, Pine View Equity Group LLC.
The structure offers heavy power, tailgate and drive-in doors for loading, 31 parking spaces and a 6,000-square-foot second floor.
“A community with vibrant housing is bound to grow, and we believe this new construction will help our town continue to develop,” said Deputy Mayor Chris Banks.
According to a Dec. 19 announcement, the new owner is "adding to his growing real estate portfolio and providing much needed flex space to the area."
Executive Vice President Joni Sweetwood and Vice President Julie Gralla represented both parties in the sale of the building, which is located at 643-715 East Front St.
The company will use the space at 2062 U.S. Route 322 for manufacturing and distribution, as LogistiCenter at Woolwich will allow them to produce and deliver products more efficiently.
The Ridgewood debut follows that of its successful sister community The Benjamin, which leased up in just 50 days in spring 2021.
The project project will include 967 residential units, 80,000 square feet of retail space, two 125-room extended stay hotels, an outdoor amphitheater and a walking trail along the Whippany River.
According to the firm, its Northeast mixed-use portfolio and development pipeline is continuing to expand. And in her new post, Tricia Wood will assist that to push to a large-scale expansion.
The property boasts 21,725 square feet.
The retail development includes more 370,000 square feet of space, occupied by national and regional tenants.