SOLD
Arthur Dozortsev Acquires Industrial Property In Linden For $1.25M
423 Bacheller Avenue
Industrial
6,000 SF
6,000 SF
Sold 1 year ago
Summary
Sale
NEW JERSEY
Industrial
6,000 sqft
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].
Players
All
5
Agents
3
Agencies
2
Details
SOLD
IMAGE: Yanni Marmarou, Bobby Lawrence & Jack Drillock
DATE: 06/21/2022
ADDRESS: 423 Bacheller Ave
MARKET: Linden
ASSET TYPE: Industrial
BUYER: Arthur Dozortsev
SELLER: John Pellegrino
SELLER'S REP: Yanni Marmarou (@TheMarmarouTeam_B6), Bobby Lawrence (@TheLawrenceTeam_NYC) & Jack Drillock (@JDrills21) - B6 Real Estate Advisors (@B6RealEstate)
SALE PRICE: $1,250,000
SF: 6,000 ~ PPSF: $208
NOTE FROM BROKERS: This property sold for approx. $200/BSF, a strong price for the Linden market. During the marketing process a number of users and investors made competitive bids on the property, with the buyer ultimately being an owner-user who was searching for warehouse space for his distribution business.
Users continue to compete with investors in the North NJ industrial market as higher leasing rates and scarce available space continue to drive higher prices.
For more information contact us at [email protected]View on map
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Address423 Bacheller Avenue
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