MOONACHIE, N.J. -- Woodmont Industrial Partners, a leading real estate development and management firm, announced on Thursday that it had acquired 77 Moonachie Ave., a 104,000-square-foot industrial building in Moonachie.
"We were attracted to this investment opportunity largely due to the property's strategic location," said Eric Witmondt, principal of Woodmont. The building is located within 10 miles of the Lincoln Tunnel and George Washington Bridge, and it's near Routes 80, 46 and 3.
The warehouse is also in the heart of the Meadowlands submarket, which remains the strongest submarket in northern New Jersey, and is just 10 miles from the Port of New York and New Jersey. Woodmont will continue to seek investment opportunities in the Meadowlands market with similar core and value-add attributes.
The property currently features seven loading dock doors, a new roof, heavy power, ample parking and 14,000 square feet of mezzanine space. Woodmont currently owns over 2 million square feet of New Jersey and Pennsylvania properties.
Woodmont is based in Fairfield. For more information about the firm, visit its website.