NAI DiLeo-Bram & Co.’s Team Goski arranges $3.8 million sale of in Garwood, NJ

Garwood, NJ NAI DiLeo-Bram & Co. (NAIDB) has arranged the $3.8 million sale of a 40,000 s/f mixed-use property located at 15-31 North Ave. E. The NAIDB brokerage team of vice president Richard Goski and associate vice president Catherine Goski-Vasquez exclusively represented the seller in the trade involving 37,000 s/f of warehouse and 3,000 s/f of office space.

The property, which occupies 1.63 acres at a signaled intersection, also includes a long-standing ice cream store. The location offers connectivity to the region’s transit infrastructure, including Port Newark-Elizabeth, the NJ Turnpike, Garden State Parkway and Routes 78, 1/9 and 22.

The buyer – a local company – has plans to make several improvements to the property and is marketing the facility for lease in early 2023 through NAIDB, as the exclusive leasing agent.

“Warehouse/distribution/light industrial investment and leasing activity have been extremely robust over the course of the past two years in this geographic region and we expect it to remain as such regardless of any major economic shifts,” said Goski-Vasquez. “New Jersey’s industrial sector is a pipeline for sustained blue- and white-collar job creation, which speaks to the strength of logistics as a key contributor in the state’s diverse economy.”