Thomas Gambino Of Dynamic Worldwide Acquires Industrial Facility In North Bergen For $36M

An industrial facility located at 7300 West Side Avenue in North Bergen has been sold for $36 million. The asset covers 130,000 square feet with a price per square foot of $277. The transaction reflects the growing demand for industrial space in the NYC area, as evidenced by low vacancy rates of approximately 2.9%.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $36,000,000
• Buyer: Thomas Gambino - Dynamic Worldwide
• Seller: Luke J. Petherbridge - Link Logistics
• Lender: Citizens Financial Group
• Loan Amount: $25,000,000
• Square Footage: 130,000
• Address: 7300 West Side Avenue
• Market: North Bergen

Thomas Gambino, representing Dynamic Worldwide, and Luke J. Petherbridge, representing Link Logistics, were the key individuals involved in the transaction. The deal is a part of Link Logistics' strategy to reshape its portfolio to meet market demand for industrial properties.