Aalberts N.V. arranges sale/leaseback with new owner, Hoboken, New Jersey-based Faropoint
(Image credit: MacKenzie Commercial Real Estate Services, LLC)
Faropoint, a Hoboken, New Jersey-based real estate investment group which focuses on last-mile industrial real estate, has acquired 2915 Wilmarco Avenue, a single-story, 62,376 square foot warehouse building in Baltimore City for approximately $6.9 million. Patrick Smith, SIOR and Chris Boland, both Vice Presidents at MacKenzie Commercial Real Estate Services, LLC, brokered the transaction on behalf of the buyer and Jonathan Carpenter and Graham Savage of Cushman & Wakefield represented the seller, 2915 Wilmarco Avenue, LLC.
Sited on 3.44 acres and featuring 16-foot clear ceiling heights, eight dock doors and two drive-in doors, the asset is positioned directly adjacent to and features roadside visibility from Interstate 95. The asset, which was delivered in 1968 and includes a free surface parking lot suitable for 30 vehicles, is 100 percent occupied by Aalberts Surface Technologies, Inc., the United States subsidiary of Aalberts N.V., a Dutch-based manufacturing and engineering company. The group, which arranged a sale/leaseback with the new owner, is engaged in integrated piping systems and hydronic flow control systems for buildings and is also in involved in other industries.
“Aalberts is a large company with a strong history, international presence, and specialized line of services,” stated MacKenzie’s Patrick Smith. “It is extremely difficult to find attractive sale/leaseback opportunities in today’s market; especially with strong credit tenants. The electric capacity and infrastructure that exists in the building should make it a great home for the tenant well beyond the existing lease term. Faropoint is an excellent landlord led by a strong team of professionals, and their in-house construction and management team is very attentive to the needs of their tenants.”
MacKenzie Commercial Real Estate Services is the real estate brokerage arm of The MacKenzie Companies, which operates six full-service divisions addressing all real estate asset classes, including MacKenzie Management Company, LLC; MacKenzie Contracting Company, LLC; MacKenzie Capital, LLC; MacKenzie Investment Group, LLC; and MacKenzie Multifamily Management, LLC. The company provides customized real estate solutions for institutional owners, investors, private companies, and individuals. For additional information, visit www.mackenziecommercial.com
