Cushman & Wakefield announced on Monday that it has arranged the sale of the Route 3 Industrial Park, a two-building industrial property totaling 97,145 square feet in Clifton.
The multi-tenant park, located at 31 & 35 Styertowne Road, was sold by Longpoint Partners and acquired by The Silverman Group.
The transaction highlights the continued high demand for industrial assets in the core Northern New Jersey market. The Route 3 Industrial Park is fully leased and situated in a prime infill location, a key feature for modern logistics and distribution.
-
Connectivity: The property offers exceptional access, located immediately off Route 3 and minutes from major regional thoroughfares, including the New Jersey Turnpike/I-95, I-80, and Routes 46 and 21.
-
Market Reach: This location provides direct connectivity to the greater New York metropolitan area, the Port of NY/NJ, and a consumer base of over 21 million people within a 90-minute drive.
“This transaction underscores the strength of investor appetite for well-located industrial assets in core Northern New Jersey,” Gary Gabriel, vice chairman for Cushman & Wakefield said. He added that the park offers “stable tenancy and long-term upside, making it a standout opportunity in a supply-constrained market.”
The Silverman Group’s acquisition reflects a focus on growing its industrial portfolio. Blake Silverman, president at The Silverman Group, said, “The acquisition of this portfolio represents the continued growth of our industrial platform and increased appetite for shallow bay value-add product.”
The park consists of two buildings on a 4.5-acre site, featuring versatile suite sizes that serve strong demand from local and regional industrial users.
Cushman & Wakefield’s team, including Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema, represented the seller in the deal.
