NAI Fennelly, which represented seller Shima Seiki in the sale of the 27,863-square-foot property to Aplomb Technologies, announced the transaction on Feb. 8.

According to Marcus & Millichap, which arranged the sale, the 8,700-square-foot property was renovated in 2019.

With the purchase, the buyer - a New York-based real estate investor and developer - expands its New Jersey portfolio. 

CBRE arranged the sale of the property and was subsequently tapped to lead marketing for its new owner.

Situated along the Hackensack River, the 3.5-acre property is less than 1 mile from the intersection of Interstate 80 and the New Jersey Turnpike.

JLL Capital Markets announced the sale and arranged acquisition financing for the property located along the highly connected Route 21 corridor.

The Bergen County tenant will continue to occupy space at the industrial property where much of its initial lease agreement was negotiated on the sidewalk as the building was under construction.

The e-bike maker signed on at a 41,340-square-foot industrial property.

According to CBRE, the purchase marks the first venture for partners Russo Development and PGIM.

Kiss Nail Products Inc. distributes its nail products, hair accessories and cosmetics to more than 100 countries from its Middlesex County location.

Larken Associates started work to add 9,000 square feet to each facility in 2020.

“Restaurant Technologies’ new lease underscores the current flight to quality trend in the market, with the company relocating from a class C to class A property," Senior Vice President Timothy Cadigan said in a prepared statement.