Elberon Development Acquires 115,000 SF Warehouse in Elizabeth, New Jersey

by Amy Works

ELIZABETH, N.J. — Elberon Development Group has purchased a warehouse located at 919 Fairmount Ave. in Elizabeth. Hayward Industries sold the property for $9 million. The seller has leased back 10,000 square feet of the 115,000-square-foot building, while the remainder of the property is leased to Survivor Window through the end of 2017. Starting in early 2018, Elberon will implement a capital expenditure plan at the property to re-lease the window manufacturer’s space. Improvements will include LED lighting, an updated façade, the removal of interior demising walls, a new HVAC system and new landscaping. Frank Caccavo, Jason Goldman, Marc Petrella and Andrew Siemsen of Cushman & Wakefield brokered the transaction.

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