{"id":3024,"date":"2023-02-16T15:40:52","date_gmt":"2023-02-16T15:40:52","guid":{"rendered":"https:\/\/www.lee-associates.com\/newjersey\/?p=3024"},"modified":"2023-02-16T15:40:53","modified_gmt":"2023-02-16T15:40:53","slug":"private-equity-firm-buys-98000-sq-ft-clifton-warehouse-complex","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/newjersey\/2023\/02\/16\/private-equity-firm-buys-98000-sq-ft-clifton-warehouse-complex\/","title":{"rendered":"Private equity firm buys 98,000 sq. ft. Clifton warehouse complex"},"content":{"rendered":"<div id=\"pl-3024\"  class=\"panel-layout\" ><div id=\"pg-3024-0\"  class=\"panel-grid panel-has-style\" ><div class=\"panel-row-style panel-row-style-for-3024-0\" ><div id=\"pgc-3024-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-3024-0-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p class=\"size-12\" lang=\"x-size-12\" style=\"text-align: left\">Longpoint Realty Partners LP has purchased a two-building, 98,000-square-foot warehouse complex in Clifton, in a deal arranged by Lee &amp; Associates New Jersey. Josh Krantz, a senior vice president with the brokerage team, represented Kessler-Schwartz Associates in its sale of the property at 31-35 Styertowne Road. He noted that the complex was a legacy asset for the seller, a multigenerational, multifamily ownership entity, prompting the off-market deal with the Boston-based private equity firm. Terms were not disclosed.<\/p>\n<p class=\"size-12\" lang=\"x-size-12\" style=\"text-align: left\">\n\u201cThe current climate for industrial investment makes this an advantageous time to divest,\u201d Krantz said. \u201cSimilarly, active players in the market today are seeking any and all welllocated product in northern New Jersey\u2019s tight infill submarkets.\u00a0The 31-35 Styertowne Road transaction provides a great illustration of both perspectives.\u201d<\/p>\n<p class=\"size-12\" lang=\"x-size-12\" style=\"text-align: left\">Longpoint subsequently appointed Lee &amp; Associates New Jersey as its leasing agent for the multitenant property, where it\u2019s planning updates such as LED lighting and window replacements. The team of Krantz, Partner Michael Schaible and Assistant Vice President Troy Wisse are marketing a 28,700-square-foot availability that came online this spring, noting that the building has multiple loading docks, drive-in doors and ample parking. Additionally, the 3.5-acre property sits just off Route 3 and is 12 miles west of Manhattan, while it\u2019s minutes from the Garden State Parkway and Route 21.<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div><div id=\"pg-3024-1\"  class=\"panel-grid panel-has-style\" ><div class=\"panel-row-style panel-row-style-for-3024-1\" ><div id=\"pgc-3024-1-0\"  class=\"panel-grid-cell panel-grid-cell-mobile-last\" ><div id=\"panel-3024-1-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"1\" ><div class=\"panel-widget-style panel-widget-style-for-3024-1-0-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p><strong>MEDIA:<\/strong><br \/>\nBy: Josh Burd<br \/>\nREAL ESTATE NEW JERSEY<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pgc-3024-1-1\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><\/div><\/div><div id=\"pg-3024-2\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-3024-2-0\"  class=\"panel-grid-cell panel-grid-cell-empty panel-grid-cell-mobile-last\" ><\/div><div id=\"pgc-3024-2-1\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Longpoint Realty Partners LP has purchased a two-building, 98,000-square-foot warehouse complex in Clifton, in a deal arranged by Lee &amp; Associates New Jersey. Josh Krantz, a senior vice president with the brokerage team, represented Kessler-Schwartz Associates in its sale of the property at 31-35 Styertowne Road. He noted that the complex was a legacy asset for the seller, a multigenerational, multifamily ownership entity, prompting the off-market deal with the Boston-based private equity firm. Terms were&#8230;<\/p>\n","protected":false},"author":167,"featured_media":3031,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Private equity firm buys 98,000 sq. ft. Clifton warehouse complex - New Jersey, Lee &amp; Associates<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/newjersey\/2023\/02\/16\/private-equity-firm-buys-98000-sq-ft-clifton-warehouse-complex\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private equity firm buys 98,000 sq. ft. Clifton warehouse complex\" \/>\n<meta property=\"og:description\" content=\"Longpoint Realty Partners LP has purchased a two-building, 98,000-square-foot warehouse complex in Clifton, in a deal arranged by Lee &amp; Associates New Jersey. Josh Krantz, a senior vice president with the brokerage team, represented Kessler-Schwartz Associates in its sale of the property at 31-35 Styertowne Road. He noted that the complex was a legacy asset for the seller, a multigenerational, multifamily ownership entity, prompting the off-market deal with the Boston-based private equity firm. Terms were...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lee-associates.com\/newjersey\/2023\/02\/16\/private-equity-firm-buys-98000-sq-ft-clifton-warehouse-complex\/\" \/>\n<meta property=\"og:site_name\" content=\"New Jersey, Lee &amp; Associates\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-16T15:40:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-16T15:40:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lee-associates.com\/newjersey\/wp-content\/uploads\/sites\/86\/2023\/02\/31-Styertown-Road-Flyer-003-3-16-22-004.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2559\" \/>\n\t<meta property=\"og:image:height\" content=\"1141\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"npietrontone\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"npietrontone\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/newjersey\\\/2023\\\/02\\\/16\\\/private-equity-firm-buys-98000-sq-ft-clifton-warehouse-complex\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/newjersey\\\/2023\\\/02\\\/16\\\/private-equity-firm-buys-98000-sq-ft-clifton-warehouse-complex\\\/\"},\"author\":{\"name\":\"npietrontone\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/newjersey\\\/#\\\/schema\\\/person\\\/a0bdfc31b30a1d7bf0828bb5fd64acd3\"},\"headline\":\"Private equity firm buys 98,000 sq. ft. 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