The STRO Companies Acquires 45,000 SF Industrial Property In Fairfield, NJ For $8.35M

The STRO Companies, led by Jack Shulman, has completed the purchase of a 45,000 square foot industrial property located at 123 Lehigh Drive in Fairfield, NJ. The property was acquired from FLM Graphics for a total sale price of $8,350,000, translating to a price per square foot of $186. This warehouse property represents STRO's ongoing strategy of acquiring similar assets in both northern New Jersey and Florida.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $8,350,000
• Square Footage: 45,000
• Address: 123 Lehigh Drive, Fairfield, NJ
• Market: Fairfield, NJ

The deal was facilitated by David Zimmel from Zimmel Associates, who served as the broker representing the buyer. Zimmel worked closely with Jack Shulman and his team at STRO to finalize the transaction. Notably, STRO demonstrated its strong financial position by offering a quick closing, hard money upon signing the purchase and sale agreement, and the ability to close the deal with an all-cash payment.

David Zimmel commends The STRO Companies on their successful acquisition and applauds Jack Shulman and his associates for their professionalism and ease to work with throughout the transaction. Zimmel expresses his anticipation of future collaborations with STRO in leasing the newly acquired property.