A joint venture between Legacy Real Estate Developers and Commerce Park Investors has successfully acquired 611 Union Boulevard, a 26,630-square-foot industrial and flex property in Totowa.
The transaction marks the fourth collaboration between the two firms, reinforcing their aggressive strategy of securing well-located industrial assets in the supply-constrained Northern New Jersey market. The deal was brokered by Howard Weinberg of JLL.
The 1.05-acre site has a deep history in the regional manufacturing sector. Built in 1980, it was the long-time home of the Knickerbocker Machine Shop, which later evolved into Alloy Stainless Products.
The new owners don’t plan on keeping the status quo. Legacy and Commerce Park Investors intend to redevelop the site into a mixed-use industrial, flex, and retail destination.
“This acquisition reflects the type of strategic investment for both firms that we continue to prioritize across New Jersey,” Salvatore Frassetto, chairman of Legacy Real Estate Developers said. “Totowa offers strong fundamentals—from workforce availability to transportation access.”
The property’s value is heavily tied to its “last-mile” logistics potential. Situated along Union Boulevard, it offers immediate access to Northern New Jersey’s major arteries:
- Highway Access: Routes 80, 46, and 23.
- Transit Proximity: Two commuter rail lines located within three miles.
- Global Reach: Roughly 20 miles from Newark Liberty International Airport and Port Newark–Elizabeth Marine Terminal.
“It’s a well-sized industrial asset in a proven market, supported by strong transportation that matters to today’s tenant,” Roy Pascal, owner of Commerce Park Investors said.
The Totowa acquisition adds to a string of successful partnerships between the two firms. Their joint portfolio now includes:
- Dover: The former Casio headquarters at 570 Mount Pleasant Ave.
- Branchburg: 22 Readington Road.
- Whippany: 1 Apollo Drive.
Peter Feldman, president of Legacy Real Estate Developers, noted that the property is currently available for sale or lease on an “as-is” basis, providing immediate flexibility for businesses looking to secure a foothold in the competitive region.
