Diamond Chemical Co. Opts to Buy Rather Than Lease in Saddle River

Diamond Chemical Co. Opts to Buy Rather Than Lease in Saddle River

NEW JERSEY—Diamond Chemical Co. has acquired 29 Park Way in Upper Saddle River, N.J. a 40,000-sq.-ft. warehouse property, from Campmor Inc. The company was represented by Cushman & Wakefield’s Stephen Elman and Jeffrey Prezant.

With a 150,000-sq.-ft. headquarters space in East Rutherford, Diamond Chemical Co. required additional space for expansion for storage needs. The company decided to invest in a property rather than leasing.

“Rather than leasing a facility for its expansion, Diamond Chemical wanted to take advantage of the current low interest rates and acquire a facility,” said Elman. “Although the market is tight for purchase opportunities, we were able to locate a free-standing facility for sale that featured the 22-ft. clear ceiling height Diamond required, and then facilitated the acquisition.”

TAGS: Industrial
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