Faropoint Acquires Industrial Property In Gloucester City For $2.7M

The industrial property located at 400 Water St in Gloucester City has been sold for $2,700,000. The property spans 38,550 square feet, resulting in a price per square foot of $70. The transaction took place on March 30, 2022.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $2,700,000
• Address: 400 Water St
• Market: Gloucester City

The buyer, Faropoint, represented by Daniel Tropp from AEBOV Industrial Real Estate Brokerage, acquired the property from Bay Pointe Properties. The seller was represented by Marc Policarpo from Westfield Real Estate. Daniel Tropp and Itay Ron were involved in the transaction as buyer's representatives.