NEW JERSEY—Prism Capital Partners LLC and The Davis Companies have teamed up for the first time to acquire 41 Slater Drive, a 180,000-sq.-ft. industrial building in Elmwood Park, from an affiliate of paper products manufacturer Marcal.
The all-cash transaction was brokered by Thomas Carragher of Studley.
Constructed in 1972 and situated on 11 acres at the intersection of I-80 and River Road in Bergen County, the property consists of 145,000 sq. ft. of warehouse space and a 35,000-sq.-ft. office component. The location provides visibility from I-80.
The warehouse space is currently leased on a short-term leaseback by Marcal Paper, and the office space is leased to Bio-Reference Laboratories Inc.
Prism Property Services is currently managing and leasing the property.