Morris County industrial land sale totals 34 acres

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A Morris County development site zoned for industrial use in Mine Hill recently changed hands, underscoring the sustained appeal of the sector in the Garden State.

Lee & Associates New Jersey announced the sale of the 24-acre parcel March 20. The property is located at 128 Iron Mountain Road. The announcement did not disclose financial terms.

Situated within the Iron Mountain Industrial Park, the site offers direct access to Route 46 and proximity to Interstate 80 as well as Route 10.

Both the buyer and seller are privately held real estate investor/developer firms. Lee & Associates NJ partner Drew Maffey, President/Principal Rick Marchisio and Vice President Will Ziegler represented the former, while partner Lori Zuck and partner Jeff Furey represented the latter.

The property’s zoning allows for a range of uses, such as warehousing, manufacturing, recreation and industrial outside storage, according to Lee & Associates NJ. The firm said it offered a rare investment opportunity in the desirable North Jersey market.

“Demand for quality industrial product in the state’s northern and central counties remains unprecedented,” Maffey said. “The same attributes that provide a strong draw for industrial tenants – including proximity to a deep labor pool and consumer base, and accessibility from numerous major thoroughfares – continue to make Morris County a prime target for investors.”

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