June 15, 2020
NKF arranged the sale of 30 Technology Drive South in Warren, NJ on behalf of a joint venture between Ivy Realty and Waterfall Asset Management. Kevin Welsh, Brian Schulz and Jason Emrani of NKF’s Capital Markets group represented the JV.
Colleagues Steven Schultz and Dan Reider were instrumental in facilitating the client relationships and support for the transaction. The NKF team also procured the purchaser, Mountain Development Corporation.
30 Tech is a 95,111-square-foot, two-story multi-use building comprising office, production, R&D and warehouse space. The property is 92% leased to a broad base of STEM tenants in the medical device, engineering and technology sectors.
“Situated in one of New Jersey’s most prestigious STEM markets, 30 Tech’s unique multi-use design and flexible zoning provide the opportunity to accommodate a broad range of diverse business operations in one location, which has been integral in attracting and retaining the current tenant roster,” said Welsh.
Image courtesy of NKF.
For comments, questions or concerns, please contact Paul Bubny