Longpoint Partners Purchases 13-building New Jersey Industrial Center from Heritage Capital

Cushman & Wakefield facilitated the sale of the Totowa Commerce Center, a 506,723-square-foot industrial park in the Fairfield/Passaic market of New Jersey. The park, comprising 13 buildings and a 5.8-acre development site, was purchased by Longpoint Partners from Heritage Capital. The financial terms of the transaction remain undisclosed.

Brokering the Deal

The deal was brokered by Cushman & Wakefield's Industrial Advisory Group, which includes Gary Gabriel, Kyle Schmidt, Ryan Larkin, and Seth Zuidema. Their expertise helped navigate the complex sale of this significant property.

Features of Totowa Commerce Center

Totowa Commerce Center is noted for its recent capital improvements, 92 loading positions, and 1,400 parking spaces. Its strategic location near major highways such as I-80, Routes 46, and 23, adds to its appeal, making it a highly efficient and accessible industrial park.

Competitive Advantages

Kyle Schmidt highlighted the park’s efficiency and versatility, noting that it provides a variety of options for occupiers of different types and sizes. He emphasized that nothing similar has been built in decades, suggesting that Longpoint Partners stands to gain significantly from the park's strategic advantages.