Warehouse Sells for $8.74M Amid High Demand in Essex County
A 3.35-acre industrial property located in Fairfield has been sold for $8.74 million. The transaction highlights the growing demand for industrial spaces in Essex County.
Details of the Sale
The sale of 8 Evans Street was facilitated by NAI James E. Hanson. Leading the brokerage were Michael G. Walters and Cameron Silverstein, who represented the seller, Anderson and Vreeland Realty Co.
The buyer, KF Mechanical, LLC, takes ownership of the property, which is conveniently located off Route 46.
Property Features
- Size: 3.35 acres
- Warehouse Space: 28,000 square feet
- Additional Features: Industrial outdoor storage
Market Insights
According to Walters, properties like 8 Evans Street are seldom available, contributing to a highly competitive market. This scarcity has created a surge in interest from qualified buyers.
Implications
The successful sale further underscores the robust demand for industrial properties in the region. As the market continues to heat up, potential investors should stay informed about emerging opportunities.
