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New Jersey Office and Industrial Property near International Trade Center for Sale

Monday, January 25, 2016

Update: This industrial property is no longer for sale. To learn details about the investment sales transaction, please click here.

HFF has been retained on an exclusive basis to sell 350 Clark Drive located in Mount Olive, New Jersey, which features some of the most prime industrial real estate in the country.

350 Clark Drive New Jersey The 453,500-square-foot industrial building is built on 40.5 acres and consists of two main components: a 335,122-square-foot industrial building, which includes 29,340 square feet of mezzanine space, and a 118,378-square-foot high-quality office building.

The original warehouse building was built in 1990 with total rentable area equaling 453,500 square feet. Currently, the industrial portion is 100 percent leased to two tenants, and the office portion is 62 percent leased to eight tenants, including 29,828 square feet leased to Mars Incorporated.

Both industrial tenants have recently invested substantial capital in their spaces, which include LED lighting upgrades with timers/motion sensors. The office building offers ample parking as well as a self-serve convenience store for tenants of both the warehouse and office buildings.

Industrial Property Investment Benefits

  • Strong Rent Stabilization and Lease Up: The property offers a substantial upside through the lease up of the vacant office space as well as through bringing the current industrial leases to market rates upon renewal. The industrial tenants have invested significant capital into their spaces and are highly efficient at this location, strengthening the probability of these tenants staying at this location beyond their current term.
  • Proximity to International Trade Center: The International Trade Center is a master-planned, 684-acre industrial park located along I-80. It is a designated Foreign Trade Zone (FTZ) and pays no duties on merchandise imported for manufacturing or assembling when the final product is exported outside of the U.S. Duties are only paid when these products leave the zone for the domestic market. In addition, there are no duties paid on merchandise shipped from one FTZ to another.
  • Elite Industrial Market: The Northern New Jersey industrial market is near the country's largest population bases and transportation hubs and is experiencing declining vacancy rates and increasing market rents. As consumers and businesses continue to demand faster delivery times on their goods/products, the Northern New Jersey market is expected to tighten even further, commanding even higher rents for newer warehouse building such as 350 Clark Drive.

This industrial property in New Jersey benefits from tremendous highway access located within a mile of I-80 and Routes 206 and 46. These highways provide access to the rest of New Jersey’s vast highway network as well as the Eastern Pennsylvania market. With its prime location in a fast growing market, 350 Clark Drive stands out among the crowd of other industrial properties in New Jersey.

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