A partnership formed by Prism Capital Partners LLC and Centurion Realty has purchased 82 Totowa Road in Wayne, N.J., for $15 million.
The 138,000-square-foot industrial building is set on 12 acres and includes 50,000 square feet of office space. The warehouse features 22-foot clear ceiling heights, 40-by-40-foot columns, six dock doors and two tail board loading areas.
East Meadow Corp. sold the property to take advantage of the opportunity-constrained northern New Jersey market.
The building, which has been fully occupied since its construction in 1979, is undergoing significant upgrades.
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