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Successful Industrial Flex Sale in Whippany at 622 Route 10 for $5,402,000
Successful Sale of 622 Route 10
In a successful transaction, the industrial flex property located at 622 Route 10, Whippany, NJ was sold for an impressive $5,402,000. As the lead real estate broker, my team and I played a critical role in facilitating this transaction, ensuring a seamless process for both the seller and buyer.
Sale Overview
Situated in the vibrant neighborhood of Whippany, this property stands as a testament to modern industrial architecture. Key figures in this successful sale include:
Sale Price: $8,820,000
Address: 11 Melanie Lane
Asset Class: Industrial Flex
Lot Size: 158,168
Building Specifications
The 70,000 SF building is designed to meet diverse industrial needs, offering flexibility and efficiency. Built with quality and durability in mind, the structure is perfectly suited for various business operations. Key location benefits include:
Sale Price: $5,402,000
Address: 622 Route 10
Asset Class: Industrial Flex
Price per Square Foot: $146.00
Location Benefits
Whippany is known for its thriving industrial sector, making this location ideal for businesses seeking accessibility and growth opportunities. Key advantages include:
Proximity to Major Highways: Easy access to I-287 and Route 24
Nearby Amenities: Whippany Railway Museum (1 Railroad Plaza, Whippany, NJ)
Public Transport: Close to Morristown Train Station
Local Attractions: Hanover Lanes (119 NJ-10, East Hanover, NJ)
Sale Details
Involving prominent stakeholders, this transaction highlights:
Buyer: Undisclosed private investor
Seller: Undisclosed corporation
Transaction Type: Sale
Market Analysis
The real estate market in Whippany is experiencing robust growth, particularly in the industrial sector. This property aligns with trends favoring versatile spaces that cater to a variety of business needs.
Market Trend: Increasing demand for industrial spaces
Investment Opportunity: Strong ROI potential given market dynamics
Location Advantage: Centrality in a burgeoning economic hub
Conclusion
The sale of 622 Route 10 underscores the strategic importance of location and versatility. Our company's expertise was pivotal in aligning the property's strengths with the market's demands, ensuring a successful transaction.
For inquiries or further information, please contact our office.
Christian Peter
Founder of Dark Horse Commercial Real Estate, a Miami-based firm specializing in income-generating commercial properties.
With 20+ years in the business, he’s helped clients buy, sell, and invest across Industrial, Multi-Family, Retail, and Office assets.
Assistance Hours
Mon – Fri 9:00am – 5:00pm
Phone Number:
(305) 987-3053
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Mon – Fri 9:00am – 4:00pm
Phone Number:
(305) 987-3053
