Terreno sells 86,000 sq. ft. Meadowlands warehouse in $25 million deal with owner-user

Terreno Realty Corp. has sold an 86,000-square-foot warehouse in East Rutherford for $25 million, in a newly announced deal by Lee & Associates’ New Jersey office.

The buyer, an undisclosed local business, is expanding into 180 Manor Road and will use the space as its new headquarters, according to a news release. The location and quality of the building were major considerations, the brokerage team said, citing the functionality and move-in readiness needed to support its continued business growth.

Lee & Associates’ Troy Wisse, Michael Schaible and Eduardo Lopez represented the seller and procured the buyer in the deal.

“The buyer already operates from a nearby building, so this acquisition allows the company to remain in the area while gaining a high-quality facility that can accommodate future growth,” Wisse said. “For industrial owner-users today, finding quality properties available for purchase can be challenging, particularly in high-barrier-to-entry markets. Our team’s market expertise enabled us to identify a buyer whose needs aligned with the property and successfully close the transaction.”

The team added that the facility, which sits on a 4.25-acre site, was recently renovated and has nine loading docks, four drive-in bays, 24-foot clear ceiling heights, an ESFR sprinkler system, LED lighting, ample parking and 8,900 square feet of office space. It also provides convenient access to routes 17 and 3, interstates 80 and 280 and the New Jersey Turnpike at Exit 16W, while it’s minutes from public transportation, Newark Liberty International Airport and Port Newark-Elizabeth.