Brooklyn, NY – Wasa Properties announces the sale of 600 James Street in Lakewood, New Jersey. The property is a 158,760 square feet industrial building located in one of the fastest growing submarkets in Ocean County. 600 James Street is in a prime location for its use; approximately one hour from both New York City and Philadelphia. The property is just 5 miles off the Garden State Parkway which provides easy access to main roadways.
Wasa Properties acquired 600 James Street in 2016 as a fully vacant historically single user occupied industrial building. Wasa Properties implemented a capital expenditure program and completed renovations to both the interior and exterior of the building. Wasa Properties repositioned and subdivided vacant spaces which allowed them to secure leases from regional tenants on a long-term basis.
600 James Street was sold at 100% occupancy and brokered by Imperial Real Estate Agency.
About Wasa Properties
Wasa Properties is a New York City based real estate investment and operating firm currently executing an opportunistic strategy focused on repositioning income generating distressed and deep value-add opportunities, well located within dynamic target markets throughout the northeast, southeast, and southwest. Wasa Properties has grown organically, acquiring one property at a time since the firm’s inception in 2004 to over 2 million square feet of assets currently under management.
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