FLORHAM PARK, NJ– HFF closed the sale of 2 Emerson Lane, a two story, 283,215-sq.-ft. industrial facility in Secaucus.
HFF marketed the leasehold interest on behalf of the seller, Hartz Mountain Real Estate. CoreSite Realty Corp. purchased the leasehold interest in 2 Emerson Lane for $18.4 million.
The facility at 2 Emerson Lane is located on a 10-acre site about 10 minutes from midtown Manhattan in the Meadowlands submarket of Secaucus. The property is close to the New Jersey Turnpike, Interstate 495, Newark Liberty Airport and Port Newark. The two-story industrial property has office and showroom space plus a six-story, 634-space parking garage. It was purchased vacant and will be converted to a data center.
The HFF investment sales team representing the seller was led by managing director Michael Nachamkin.