NEW JERSEY—Diamond Chemical Co. has acquired 29 Park Way in Upper Saddle River, N.J. a 40,000-sq.-ft. warehouse property, from Campmor Inc. The company was represented by Cushman & Wakefield’s Stephen Elman and Jeffrey Prezant.
With a 150,000-sq.-ft. headquarters space in East Rutherford, Diamond Chemical Co. required additional space for expansion for storage needs. The company decided to invest in a property rather than leasing.
“Rather than leasing a facility for its expansion, Diamond Chemical wanted to take advantage of the current low interest rates and acquire a facility,” said Elman. “Although the market is tight for purchase opportunities, we were able to locate a free-standing facility for sale that featured the 22-ft. clear ceiling height Diamond required, and then facilitated the acquisition.”
