Jay Lacobowitz Acquires Industrial Property On E St. George Avenue In Linden For $1.35M

The industrial property located at 1700-1710 E St. George Avenue in Linden, NJ has been sold for a price of $1,350,000. The property spans across 19,100 square feet, resulting in a price per square foot of $71. This sale stands out in the market as one of the highest sales of commercial property in the neighborhood based on a price-per-acre metric, which amounts to approximately $3.08 million per acre.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $1,350,000
• Square Footage: 19,100
• Price Per Square Foot: $71
• Address: 1700-1710 E St. George Avenue, Linden, NJ
• Market: Linden

The buyer of this industrial property is Jay Lacobowitz, while Betsy Fenik acted as the seller. The deal was facilitated by Yanni Marmarou and Jack Drillock from the Investment Property Realty Group, representing both the buyer and seller. Notably, the buyer closed the transaction over the initial asking price within just 30 days of signing the Purchase and Sale Agreement (PSA). This showcases the strong pricing and market activity for commercial real estate in Linden, NJ, reaffirming the continued strength of the local commercial real estate market.