Stro Celebrates the Holidays with New Leasing at 111 Moonachie Avenue
Ridgewood, NJ – December 18, 2017 – The Stro Companies (“Stro”) announced it has recently completed over 26,500 square feet of leasing activity at 111 Moonachie Avenue, Moonachie, NJ. Stro acquired 111 Moonachie Avenue, a 52,000 square foot flex industrial building featuring 8 units, in March of 2017. Located in the heart of the Meadowlands, the property is located directly across the street from Teterboro Airport and a short distance from Routes 17, 3 and the New Jersey Turnpike.
After purchasing the asset Stro instituted a repositioning program which included enhancements to the building’s façade and vacant spaces. “The improvements we made to 111 Moonachie Avenue have made a strong asset even stronger. New and existing tenants see our commitment to the property and the superior image it provides their businesses” said Todd Minerley Director of Acquisitions & Leasing. “The market has responded well to our repositioning plan for this asset. We are quite pleased to accomplish so much, so quickly” said Michael Lachs Director of Finance & Investments.
With the new leasing activity, the property has only one available space, a 7,500 square foot Showroom/Retail unit. “With exceptional visibility, ample parking and the recent façade upgrades, we expect strong demand for this rare Meadowlands space” said Minerley.
Founded in 1994 by Steven Millstein, The Stro Companies (“Stro”) maintains a portfolio of over 2 million square feet of investments in industrial, flex/industrial, and multi-family properties. Stro actively pursues new “Value-Add” and “Stabilized” small to medium size industrial real estate acquisitions in Northern New Jersey. The company also invests with outside operators in commercial real estate opportunities throughout the United States.