March 13, 2020
NAI James E. Hanson negotiated the sale of two industrial development sites at 2 and 4 Aaron Way in the White Lake Commerce Park in Sparta, NJ. The firm’s John Schilp represented the seller, Berardi Developers.
Purchased by a Morris County-based developer, the two sites will be transformed into a 30,000-square-foot spec warehouse to meet growing demand in the Sussex County industrial market.
Schilp was retained in 2019 to facilitate the sale of the 12 lots comprising the site. With the last lot due to close in late March, Schilp has now brought several developers to White Lake Commerce Park.
“Just a few years ago, Sussex County was far from front of mind when it came to spec industrial development,” Schilp said. “However, record-high pricing to the east has forced developers and tenants to look to the area to meet their industrial real estate needs.”
For comments, questions or concerns, please contact Paul Bubny