SK Realty Purchases 25 Linden Avenue, East Jersey City, NJ
David Zimmel, CEO, Zimmel Associates, handled the $10.5 million sale of 25 Linden Avenue, East Jersey City, NJ, featuring an industrial building of 105,000 sq. ft., which includes 12,000 sq. ft. of office space, tailboard loading and a tenant with several years left on their lease.
The industrial building is in a great location, right off the highway, close to New York City, with convenient access to bridges, tunnels and ports, and directly next to the modern Jersey City Public Works building, which has a 24-hour security guard.
Ownership contacted David Zimmel to discuss the viability of selling this building with a tenant in place, who is a world leader in the management and distribution of print and related offerings. In today’s market, finding a building with a tenant in place is a very strong commodity. Zimmel was able to secure a signed contract in one week and complete the sale within 45 days.
SK Realty was represented by Samuel Kirschenbaum of New York City. “An attempt to sell the building for months was unsuccessful, so they contacted me to get it done,” says David Zimmel. “Our company is located at the epicenter of one of the nation’s most concentrated and successful markets for industrial properties. We are continually on the lookout for great deals for our clients and have in-depth knowledge of on and off-market opportunities.”