Buyer expands Clark portfolio with $18M, 6-building acquisition 

A buyer paid $18 million to expand its growing portfolio along Terminal Road in Clark.  

The package consists of six buildings totaling 73,573 square feet, according to a Jan. 2 announcement from Zimmel Associates. The properties span industrial, office and retail space. 

Xem thêm : Plan for 2025: Predictions from Our Portfolio Managers

To close out 2024, the Edison-based full-service brokerage secured the deal for an unnamed long-term client. Two years ago, Zimmel said it helped the same buyer add three other buildings – a cumulative 150,000 square feet – along the same road. 

“We’ve represented these properties for Denholtz [Properties] for over a decade, maintaining stabilized long-term leases that enhanced their appeal to buyers,” commented David Zimmel, president, Zimmel Associates. “The location, just off the Garden State Parkway, combined with the Clark market’s strong performance, made this portfolio an exceptional opportunity for the buyer to expand their footprint.” 

The latest additions are 301, 315, 33, 75, 89 and 225 Terminal Road. 

According to Zimmel Associates, the portfolio includes a mix of single-story industrial buildings, office space and retail.  

Significant investments over the past 10 years boost the properties’ overall value, Zimmel said. The firm cited the development of a retail strip center featuring a Dunkin’ Donuts that was completed three years ago.  

“This sale marks a full-circle moment for Denholtz Properties,” Zimmel added. “From acquisition and strategic improvements to achieving maximum value, it’s a testament to the strength of the market and the foresight of everyone involved.” 

Zimmel Associates will continue as exclusive leasing broker for the buyer’s portfolio.  

The company said current and upcoming opportunities include: 

• 159 Terminal Road: 34,000 square feet of industrial space (available April 2025)  
• 133 Terminal Road: 40,000 square feet of industrial space (available April 2025)  
• 75 Terminal Road: 9,000 square feet of one-story office space (available immediately) 

ICYMI:

Denholtz Properties recently tapped Zimmel Associates to lease an industrial redevelopment underway in Bridgewater. Read more about the 73,000 square-foot project.