Faropoint Acquires New Jersey Industrial Portfolio From Alexander Properties For $XXM

Alexander Properties sold a two-building New Jersey industrial portfolio located at 27-35 Franklin Turnpike and 90 New Dutch Lane. The portfolio comprises a 67,170-square-foot site in Mahwah and a 56,651-square-foot site in Fairfield, totaling 123,821 square feet across 1.3 acres. Both buildings are fully leased, offering excess yard capacity and potential for value enhancement in high-demand submarkets.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not disclosed
• Buyer: Adir Levitas - Faropoint
• Seller: Alexander Properties
• Brokers: Gary Gabriel, Kyle Schmidt, Ryan Larkin & Seth Zuidema - Cushman & Wakefield
• Market: Mahwah & Fairfield
• Acreage: 1.3
• Square Footage: 123,821

Cushman & Wakefield’s Gary Gabriel, Kyle Schmidt, Ryan Larkin, and Seth Zuidema represented Alexander Properties in the transaction. Faropoint is expanding its presence in the market, taking advantage of the portfolio's strategic characteristics and leasing status.