Bytech Acquires Industrial Facility In Hackettstown From Terry And Salvatore Frassetto For $13M

The asset involved in this transaction is a newly built industrial facility located at 999 Willow Grove Street in Hackettstown. The facility encompasses 50,000 square feet and was sold for $13,000,000, which equates to a price per square foot of $260 in the local market.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $13,000,000
• Address: 999 Willow Grove Street
• Market: Hackettstown
• Buyer: Bytech
• Seller: Terry Frassetto & Salvatore Frassetto - Saddleback Real Estate Developers
• Broker: Robert Adams - Garden State Realty
• Lender: Kearny Bank
• Square Footage: 50,000
• Price per Square Foot: $260

This deal was brokered by Robert Adams of Garden State Realty, who facilitated the sale between the buyer, Bytech, and the sellers, Terry and Salvatore Frassetto, representing Saddleback Real Estate Developers. Financing for the transaction was provided by Kearny Bank. Notably, the site was repositioned as a newly developed asset after being acquired by Saddleback in 2021.