Cushman & Wakefield on Wednesday announced it has arranged the sale of a two-property industrial portfolio totaling 123,821 square feet across two highly sought-after New Jersey submarkets. The portfolio was acquired by Faropoint from the seller, Alexander Properties.
The portfolio includes:
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27-35 Franklin Turnpike in Mahwah: A 67,170-square-foot property, reconstructed in 2020 and fully leased to long-term tenant Beacon Roofing Supply.
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90 New Dutch Lane in Fairfield: A 56,651-square-foot property that serves as the headquarters for Precision Textiles.
Both assets feature valuable excess yard area for parking and trailer storage, adding future flexibility and value-add potential.
“This portfolio offered a unique opportunity for Faropoint to acquire two well-positioned assets with significant value-add potential in highly desirable New Jersey submarkets,” Gary Gabriel of Cushman & Wakefield said. Gabriel represented the seller along with Kyle Schmidt, Ryan Larkin and Seth Zuidema.
Faropoint confirmed that the acquisition reinforces its strategy of targeting core, high-barrier-to-entry locations with limited industrial supply.
“Both Mahwah and Fairfield represent strategic micro-locations within our broader aggregation play across Northern New Jersey,” Orry Michael, vice president, Northeast Acquisitions at Faropoint said. “We’re selectively expanding our footprint in submarkets where we have seen strong tenant demand, limited supply, and long-term stability.”
The properties are situated in ideal infill locations with direct access to major transportation corridors, enabling efficient distribution across the region.
“These acquisitions reinforce our disciplined approach to high-quality Northeast assets,” Itay Ron, Northeast market officer at Faropoint said.
