75 Wood Street
Update
07/20/21
Marcus Partners Acquires 2 Industrial Properties in Paterson
Marcus Partners has recently acquired 75 Wood Road and 90 6th Avenue in Paterson NJ. The two industrial buildings total 194,000 square feet and are 100% leased to four companies. This is the firm’s first industrial investment in New Jersey and ninth overall this year, bringing year to date activity to 1.3 million square feet
“This investment provides an attractive mix of current cash flow with value-add opportunities through property enhancements,” noted Bill McAvoy, principal at Marcus Partners. “As we aggressively seek new investments along the east coast, this is a great start for us in New Jersey.”
Marcus’ existing portfolio of industrial buildings and development deals now totals 3.6 million square feet, including 800,000 square feet of development. Marcus Partners continues to seek additional opportunities in the Boston to Washington DC markets. As a part of the effort, this purchase begins the assembly of a New Jersey portfolio of Class A and B industrial assets including existing and ground up development – consistent with its current portfolio.
The property is proximate to Route 80 and offers attractive loading and an oversized lay down area.
Gregg Kelman of GK Realty facilitated the transaction.
Over the past three years, Marcus Partners and its affiliates have completed 20 warehouse/distribution acquisitions. The firm’s current fund invests in industrial, residential, biomedical, medical office, office and mixed-use properties, primarily along the East Coast.
