Highlighting a distinct regional pivot toward premium, infill small-bay warehouse spaces, Resource Realty of Northern New Jersey (RRNNJ) on Thursday announced the successful completion of three separate industrial transactions across Morris County totaling approximately 37,000 square feet.
The transaction blitz features the outright sale of a 12,000-square-foot industrial facility in Boonton, flanked by two long-term commercial leases combining for nearly 25,000 square feet across Boonton and neighboring Rockaway.
“Properties with immediate proximity to major regional highways like I-287 and I-80 continue to command a premium,” Scott Peck, principal at RRNNJ said. “Infill municipalities such as Boonton offer exceptional connectivity to New York City, upstate New York, and South Jersey, which continues to attract investment to the region and enduring occupancy among small-to-midsized users.”
In the featured disposition, RRNNJ Principals Scott Peck and Greg Sabato represented the property owners in the sale of 219 Division Street in Boonton.
The standalone, single-story property occupies a 0.7-acre lot and boasts a highly sought-after infill profile, sitting less than three blocks from the Interstate 287 North and South access ramps. Equipped with multiple drive-in loading doors, the facility is within walking distance of the NJ Transit rail station and Boonton’s downtown business district.
Less than one block away at 325 Division Street, RRNNJ Principals Brian Wilson and Tom Consiglio engineered a 15,000-square-foot lease on behalf of athletic and recreation tenant Side Out Sports.
The specialized industrial property features:
- 1,500 square feet of built-out office space.
- High-demand 22-foot-clear ceiling heights.
- Three functional loading gates.
- Rapid 1.3-mile transit access to I-287, U.S. Route 46, and the Garden State Parkway.
Rounding out the firm’s regional activity, Brian Wilson stepped in to represent the tenant in a long-term, 10-year lease renewal for 9,339 square feet at 41 Pine Street in Rockaway.
The tenant secured its extended residency within a six-building, 17-acre industrial park originally constructed in 1955. Located just two blocks from Interstate 80, the campus provides a flexible mix of office and light industrial space with streamlined access to local commercial arteries, including Routes 46, 10, and 15.
“Distribution, light industrial, and service-operation tenants seeking efficient regional access, especially in the wake of fluctuating gas prices, are increasingly targeting Morris County,” Wilson added. “Few locations in New Jersey provide this level of access and convenience to the tri-state service markets.”
