Arthur Dozortsev Acquires Industrial Property In Linden For $1.25M

Located in Linden, the industrial property at 423 Bacheller Ave has recently been sold. The transaction took place on June 21, 2022. The property, spanning 6,000 square feet, was listed at a sale price of $1,250,000, equating to approximately $208 per square foot.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $1,250,000
• Address: 423 Bacheller Ave
• Market: Linden

The buyer of the property is Arthur Dozortsev, while the seller is John Pellegrino. Representing the seller, Yanni Marmarou, Bobby Lawrence, and Jack Drillock from B6 Real Estate Advisors facilitated the sale.

During the marketing process, multiple users and investors expressed interest in the property, leading to competitive bids. Ultimately, the property was purchased by an owner-user who needed warehouse space for their distribution business. This transaction sets a strong price for the Linden market, selling at approximately $200 per square foot.

In the North NJ industrial market, users and investors continue to compete for limited available space as leasing rates rise. For more information about this transaction, contact the Marmarou Team at [email protected].