Demonstrating continued, robust demand within the northern New Jersey industrial market, NAI James E. Hanson has successfully negotiated the $9.1 million sale of a 30,300-square-foot industrial building located at 178 Commerce Road in Carlstadt.
The transaction was handled by NAI James E. Hanson’s Institutional Services Group, featuring Senior Managing Directors Jordan Avanzato and Christopher Todd alongside Managing Director William Ericksen. The team represented the seller, real estate private equity fund manager Venture One Real Estate, while the buyer was identified as Gran Trade Inc.
Positioned firmly in the heart of the Meadowlands submarket, 178 Commerce Road features:
- 27,800 square feet of warehouse space and 2,500 square feet of office space
- Two exterior loading docks and one drive-in door
- 15-foot clear heights
The property boasts immediate connectivity to major regional thoroughfares, including Routes 3, 17, and 46, as well as Interstate 95, offering swift access to New York City via the Lincoln Tunnel and George Washington Bridge. Furthermore, the site sits just three miles from Teterboro Airport and roughly 15 miles from Newark Liberty International Airport and Port Newark-Elizabeth.
“This transaction reflects the pickup in demand we’re seeing across the Meadowlands from both a leasing and sales perspective,” Avanzato said. “By combining our investor relationships with a targeted user outreach strategy, we identified the property’s highest and best use, uncovering the right end user to maximize value and deliver the strongest possible outcome for our client, Venture One.”
The property’s new owner-occupant, Gran Trade Inc., is a well-established distributor of natural and engineered stones—including quartz, marble, and quartzite—serving fabricators across New Jersey, New York, Connecticut, and Pennsylvania. Founded in 2003 and locally rooted in Carlstadt, the company purchased the facility to accommodate its ongoing growth, leveraging the added warehouse capacity to scale up its import and distribution operations.
For the seller, Rosemont, Illinois-based Venture One Real Estate, the deal underscores the successful execution of its value-add investment strategy across targeted regional markets. The firm currently owns and manages upwards of 10 million square feet of industrial space nationwide.
