Investment Overview

The Geller Group of Marcus & Millichap Real Estate Investment Services has been exclusively retained by the seller to present the opportunity to acquire 730-736 Madison Ave Paterson, NJ (The Subject Property) to qualified investors. The 54,300 SF multi-tenanted industrial building is in Paterson, New Jersey's Route 46/23/3-I Submarket cluster. The Portfolio is 86% leased to a diverse roster of tenants with shorter lease terms providing future MTM opportunities for the near term. The constrained Paterson market is experiencing 3.8% vacancy for industrial product with limited planned competitive construction. Given lack of supply and its true infill location, investors will benefit from asset appreciation and leasing income. The Property's infill location falls between Route 4, 17, 23 & 46, as well as, the North/South Interstate I-80 & I-95 interchange. Its location provides immediate access to the tri-state area population as well as national connectivity through I-95. The Paterson submarket provides a deep and diverse set of labor supporting the multiple industries in the area. The subject property at 730 Madison Avenue in Paterson, NJ is a 54,300-square-foot Class B industrial building situated on a 1.364-acre corner lot. Originally constructed in 1920 and fully renovated in 2022, the property features one and partial two-story sections with average-quality construction and stabilized occupancy. It includes 6 drive-in doors, 5 dock-high loading doors, and clear ceiling heights ranging from 14 to 24 feet, offering flexible functionality for industrial use. Built with a reinforced concrete foundation and brick/block masonry exterior, the building also contains 6% office space and operates with standard utilities and surface parking. The property’s location allows employees immediate access to many amenities, retail and restaurant options, and ease of access from anywhere in the Passaic, NJ MSA.