WASHINGTON, D.C. – May 9, 2013 – (RealEstateRama) — M. Miller, Senior Vice President of Lee & Associates New Jersey, one of the largest broker-owned commercial real estate firms in the country, has closed a $12 million industrial deal at 5 Empire Blvd.
Miller represented both the seller AKK International LLC and buyer Sitex Group in the transaction involving the transfer of this 180,000-square-foot industrial facility on seven acres.
“The Meadowlands submarket is one of the most sought-after industrial markets in the U.S. because of its strategic location relative to the NYC metro area and the Teterboro Airport hub,” said Miller. “The scarcity of buildable land within the market provides SRG an opportunity to rebrand this asset into a trophy quality facility.”
According to Miller, the deal took less than 60 days from start to close allowing the seller to take the better capital gains treatment end of year 2012.
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 48 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 750 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.