Faropoint Acquires NNJ Light-Industrial Portfolio In Whippany, Oakland & Fair Lawn For $132.5M

The NNJ Light-Industrial Portfolio, consisting of ten assets, has been sold in a closed transaction. The portfolio includes properties located at 125 Algonquin Parkway, 145 Algonquin Parkway, 156 Algonquin Parkway, 30 Leslie Court, 95 Bauer Drive, 128 Bauer Drive, 5 Thorton Road, 40 Potash Road, 19-05 Nevins Road, and 17-01 Pollitt Drive. These properties are situated in Whippany, Oakland, and Fair Lawn within Bergen and Morris County. The asset type of these properties is industrial.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $132,500,000
• Square Footage: 654,633
• Price Per Square Foot: $202
• Market: Whippany, Oakland & Fair Lawn

Faropoint, represented by Orry Michael, Vadim Greenberg, Ohad Porat, and Yannai Gordon, has acquired the NNJ Light-Industrial Portfolio. The seller in this transaction is Kushner Companies. The deal was facilitated by brokers Jose Cruz, Michael Oliver, Jordan Avanzato, Marc Duval, Nick Stefans, and Jason Lundy of JLL.

Note from broker: The NNJ Light-Industrial Portfolio represents a collection of industrial properties across Whippany, Oakland, and Fair Lawn. This transaction marks a significant investment opportunity in Bergen and Morris County.