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Fedex Distribution Facility Sold in East Hanover at 9 Melanie Lane for $7,056,000
Successful Sale of 9 Melanie Lane
In a remarkable transaction, the property at 9 Melanie Lane in East Hanover, NJ, recently sold for an impressive $7,056,000. This industrial asset, nestled in the bustling East Hanover industrial hub, underscores our team's expertise in navigating high-stakes real estate deals. Key members, including Christian N. Peter II played a pivotal role in this transaction to Terreno Realty a Real Estate Investment Trust (REIT).
Two standout features of this property include its expansive industrial space and strategic location, attracting significant attention from buyers.
Sale Overview
Sale Price: $7,056,000
Address: 9 Melanie Lane, East Hanover, NJ
Asset Class: Industrial
Price per Square Foot: $126.00/SF
Building Specifications
The building at 9 Melanie Lane, constructed in 1995, features one story, and was a build to suit for Fedex corporation. Spanning a sizable 56,000 square feet, this property provides ample space for operations, storage, and logistics.
Lot Size: One of 3 buildings situated on 22 acres
Total Rentable Square Footage: 56,000 SF
Location Benefits
East Hanover is renowned for its vibrant industrial sector and accessibility all less than 25 miles from New York City. The property is strategically located near major highways, ensuring seamless connectivity for logistics operations. Notable businesses such as the East Hanover Commerce Center further highlight the area’s industrial prowess.
Proximity to Major Highways: Easy access to I-287 and Route 10
Nearby Attractions: East Hanover Commerce Center
Transportation Options: Convenient access to public transport, enhancing workforce commute.
Sale Details
The sale, marked at $7,056,000, translates to a competitive $126 per square foot. The seller, a private investor, recognized the strategic value of this East Hanover property, while the buyer, a prominent industrial corporation, aims to leverage its location for expanded operations.
Full Price: $7,056,000
Seller Type: Private Investor
Buyer Type: Industrial Corporation
Market Analysis
The sale of 9 Melanie Lane reflects current market trends emphasizing industrial space demand in strategic locations. As businesses look to optimize logistics and distribution channels, East Hanover’s industrial properties remain highly sought after.
Market Demand: Increasing demand for industrial spaces in strategic locations
Investment Value: Recognized as a valuable asset within the industrial sector
Conclusion
The successful sale of 9 Melanie Lane highlights its prime location and strategic industrial appeal, contributing significant value to East Hanover's industrial landscape. Our brokerage's expertise played a crucial role in facilitating this transaction, showcasing our commitment to excellence in commercial real estate.
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.
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Phone Number:
(305) 987-3053
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Phone Number:
(305) 987-3053
