Adir Levitas Of Faropoint Acquires Industrial Facility In Florham Park For $9.25M

Faropoint acquired a 50,600-SF industrial facility located at 5 Vreeland Road in Florham Park for $9,250,000. The asset, which serves as an office/production/warehouse space, was sold by the Ilaria Family Trust.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $9,250,000
• Square Footage: 50,600
• Address: 5 Vreeland Road
• Market: Florham Park
• Price per Square Foot: $183
• Buyer: Adir Levitas - Faropoint
• Seller: Ilaria Family Trust
• Brokers: Tom Mallaney, Elli Klapper & Denise Kokulak - CBRE

CBRE’s Tom Mallaney, Elli Klapper, and Denise Kokulak represented the seller, the Ilaria Family Trust, and facilitated the transaction with Faropoint. Additionally, CBRE will manage the leasing of the property following the change in ownership.