NAI Fennelly, one of New Jersey and Pennsylvania’s most experienced and successful independent full-service commercial real estate service providers, announces the sale of a 27,362-square-foot industrial building at 480 Lalor Street in Trenton, N.J. for $1.8M. Jerry Fennelly, SIOR, President of NAI Fennelly, and Matt Fennelly, Sales Associate, represented the seller, Switlik Survival Products, Inc., in the transaction with buyer, Howco Management.
Located on southern edge of Trenton, 480 Lalor Street is 27,362-square-foot industrial building featuring 12’ clear ceilings, one loading dock, a 10’x12’ chemical storage room, 900-amp power and a gated parking lot with direct access to Route 29. It is also located within an Urban Enterprise Zone (UEZ), a program designed to stimulate growth and create private sector jobs through public and private investment. The property also boasts proximity to Routes 1, 29, Interstate 195 and the New Jersey Turnpike.
The seller tapped NAI Fennelly to market the property for sale and attract a reputable buyer who was interested in a sale-leaseback until the company’s planned exit in 2023. Leveraging its extensive marketing capabilities, NAI Fennelly listed the property and attracted several buyers who could meet their client’s timed exit into a new 22,0000 square foot location.
“The competitive industrial market and the Urban Enterprise Zone program have helped breath a second life into the many well located industrial properties found across Trenton,” said Matt Fennelly, Industrial Specialist of NAI Fennelly. “Through partnering with an experienced and knowledgeable real estate solutions provider, owners can identify the potential of these unique, well-located factories and capitalize on the strong market conditions to create value from their assets through both strategic sales and leasing efforts.”