Cushman & Wakefield Brokers $51.6M Sale of New Jersey Industrial Building

FAIRFIELD, N.J. — Cushman & Wakefield has brokered the sale and acquisition financing for an industrial building in Fairfield. Located at 300 Fairfield Road, the 418,000-square-foot property sold for $51.6 million, making it the largest single industrial asset sale in Northern New Jersey this year. Bala Cynwyd, Pa.-based Stoltz Real Estate Partners purchased the property from Fairfield BAB Group LLC. Constructed in 2006, the single-story building features 28-foot ceiling heights, 34 loading doors and 398 parking spaces. The property is fully leased to Middle Atlantic Products (MAP) through November 30, 2026. MAP, a part of Legrand North America, is a provider of mount integrated AV systems for residential, commercial, broadcast and security applications, and utilizes the site as its headquarters, production and distribution center. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Frank Caccavo, Jason Goldman, Marc Petrella and Andrew Siemsen of Cushman & Wakefield represented the seller. John Alascio, Mark Ehlinger and Suraj Ravi of Cushman & Wakefield’s Equity, Debt and Structured Finance Group arranged the acquisition financing, which was provided by Investors Bank.