Private Buyer Acquires Manufacturers Village Commercial Complex In East Orange For $10.5M

A private buyer acquired Manufacturers Village, a five-building historic commercial complex located at 356 Glenwood Avenue in East Orange, for $10.5 million. The property encompasses 104,000 square feet and is valued at approximately $101 per square foot. Built in the 1880s, it originally served as the headquarters for the company that eventually became Johnson & Johnson. Currently, the complex accommodates around 40 artist studios and small business units.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $10,500,000
• Square Footage: 104,000
• Price Per Square Foot: $101
• Address: 356 Glenwood Avenue
• Market: East Orange
• Brokers: Marcy Gross, Theresa Davis & Eric Weston - Sheldon Gross Realty

The transaction involved a private buyer and was facilitated by three brokers from Sheldon Gross Realty, representing the seller in the deal. The acquisition underscores the ongoing interest in historic commercial properties that serve diverse business needs.