ALLENDALE AND MAHWAH, N.J. — Regional investment firm Faropoint has purchased two industrial parks totaling 770,064 square feet in Northern New Jersey for $144.5 million. Allendale Shallow-Bay Industrial Park consists of seven industrial buildings totaling 370,064 square feet on a 35.1-acre site, and Mahwah Industrial Center comprises three buildings totaling 400,000 square feet across 33 acres. Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema of Cushman & Wakefield represented the undisclosed sellers in the transactions. Both developments were fully leased at the time of sale.
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