NAI James E. Hanson has announced the sale of a 73,373-square-foot industrial building at 39 Robinson Road in Lodi, N.J. NAI Hanson’s team of Scott Perkins, SIOR, Andrew Somple, SIOR, Greg James, Christopher Todd and Justin Allessio represented the seller, AEW, in the transaction with Mood Fabrics.
Featured on Project Runway and named one of the 50 Most Powerful Companies in Fashion by New York Daily News, Mood Fabrics is a purveyor of quality fabrics to customers ranging from high-profile celebrities to everyday consumers searching for unique and fashionable designs. Their acquisition of 39 Robinson will allow the company to support their NYC retail location at 225 West 37th St. as well as fulfill online orders for customers throughout the region.
Situated on 3.21 acres, 39 Robinson Road is an industrial building featuring 29’ clear ceilings in 16,447 square feet of the building and 14’ clear through the remaining 56,896 square feet. The building features three tailgates and three drive-ins. The building is situated just off Route 17 with immediate proximity to Routes 80 and 46, giving the space ideal accessibility to New York City, the Garden State Parkway and the New Jersey Turnpike.
The sale marks the culmination of a successful marketing strategy by NAI James E. Hanson on behalf of their client, AEW, to secure a buyer and capitalize on record high sales prices for Bergen County industrial assets. Mood Fabrics recognized the property’s accessibility and flexibility of the building’s layout would ensure they could both support their New York City operation while securing access to markets to the south and west.
“What we are seeing in the Bergen County industrial market right now is a textbook definition of supply and demand in action,” said Somple. “Elevated demand from e-commerce retailers and distributors coupled with a limited supply of land and space, has led to record high sales prices for quality industrial assets like 39 Robinson. Despite high pricing, buyers continue to invest in the market and we were honored to work with AEW to market this building to secure a premium price in line with this asset’s value.”