1-11 Market St 250,000 SF Industrial Building Passaic, NJ 07055 $33,502,081 CAD ($134.01 CAD/SF) 5.30% Cap Rate

The Geller Group of Marcus & Millichap Real Estate Investment Services has been exclusively retained by the seller to present the opportunity to acquire 1-11 Market Street (The Subject Property) to qualified investors. The 325,030 Gross SF multi story industrial building is in Passaic, New Jersey's Route 3/GSP submarket. The Portfolio is 100% leased to a full building 3PL tenant with a lease term remaining of 5.9 years. The constrained Passaic market is experiencing 4.3% vacancy for industrial product with limited planned competitive construction. Given lack of supply and its true infill location, investors will benefit from asset appreciation and leasing income.
The Property's infill location falls between Route 21, 17 & 46, as well as the North/South Interstate I-80 & I-95 interchange. Its location provides immediate access to the tri-state area population as well as national connectivity through I-95. The Route 3/GSP submarket provides a deep and diverse set of labor supporting the multiple industries in
the area.
This infill, highly functional light industrial building includes 16-35' foot clear heights, 10 loading dock's, 1 Drive-in, 13 Bathrooms and 3 Freight Elevators. Each story is on average +/-50,000 SF which includes a 1st floor +/-10,030 SF Mezz level, a 3rd floor +/-15,000 SF Mezz and a +/-50,000 SF 9.6' foot clear basement for a total of +/-325,000
SF complimented by +/-40 surface parking spaces in front of the building. The property’s location allows employees immediate access to many amenities, retail and
restaurant options, and ease of access from anywhere in the Passaic, NJ MSA