Two Sales Total $7.5M with Three Northern NJ Leases
Parsippany, NJ [May 27, 2025] – Resource Realty of Northern New Jersey (RRNNJ) continues to demonstrate its strength in the Northern New Jersey commercial real estate market with the successful completion of five industrial transactions. The firm’s market specialists recently finalized two sales, totaling $7.5 million, and three industrial property leases.
The larger of the two sales involved the $4.5 million acquisition of a 28,000-square-foot industrial property located at 273 Franklin Rd., Randolph, NJ. RRNNJ Principal Tom Consiglio facilitated the transaction, representing the buyer Commerce Park Investors, which has retained the firm as the exclusive sales agent for the property.
The single-story warehouse/industrial building, which was originally designed as an industrial condominium with individual units of 2,600-SF, features separate metering, a loading dock and office. The property is within close proximity to Route 10 and Route 46.
“The purchaser immediately began refurbishing the building to bring it back to its original use,” said Consiglio, who noted the seller, a private individual, had acquired the separate units over a period of time. “Improvements include new entrances, façade enhancements, a parking lot upgrade, office space renovations and all-new utilities. This is a rare investment opportunity for a user/owner small business to acquire space of this size and quality in Morris County.”
The second sale, arranged by RRNNJ Principals Greg Sabato and Brian Wilson, involved the $3 million trade of a 12,000-square-foot flex/light manufacturing building at 19 Gloria Lane, Fairfield, NJ. The firm represented the unnamed seller. The property’s appeal was driven by its versatile space, suitable for a wide range of uses, and strong curb appeal, enhanced by well-manicured landscaping.
In addition to the sales transactions, RRNNJ is also active on the leasing front. Sabato and Principal Scott Peck represented both the landlord and the tenant, a video production company, in a 16,269-square-foot industrial lease at 5 Just Rd., Fairfield. The tenant is expanding its operations within the immediate area.
Rounding out the firm’s recent leasing activity, Wilson and Peck arranged two renewals on behalf of an unnamed landlord: a 17,500-square-foot lease and a 15,000-square-foot lease. The property is located in Morris County’s Rockaway Township.
Based in Parsippany, NJ, Resource Realty of Northern New Jersey is a world-class provider of commercial real estate solutions delivered with the personalized attention and autonomy of a boutique firm. Custom services include sales and leasing, landlord and tenant representation, corporate advisory and consulting, and investment property acquisitions. Founded as part of a collaborative consortium of three like-minded firms, Resource Realty of Northern New Jersey’s 35-year reputation is rooted in market-specific expertise, a core client base and the cultivation of long-term industry-wide relationships.
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