Stro Cos. adds over 100K sf to industrial portfolio in Hackensack, Roselle

Ridgewood-based commercial real estate firm Stro Companies has acquired more than 100,000 square feet of industrial space in the Garden State within the past week, ROI-NJ reported. Stro recently closed on its inked the acquisition of 65,000 square feet and 18,000 square feet at 211-215 South Newman Street in Hackensack, as well as 35,000 square feet at 450 West First Avenue in Roselle, a property that is fully-leased to Federal Express, according to the outlet. Both Hackensack properties are located six miles from the George Washington Bridge. SB One Bank provided financing for the Hackensack acquisitions, while Signature Bank financed the purchase in Roselle. Stro said that within the past 18 months it has acquired 275,000 square feet of industrial space. The Real Deal reported in its recent Tri-State issue that Hackensack has become a hotbed for real estate investment activity in recent months, in part due to its number of strategically located Opportunity Zones. [ROI-NJ]