Newmark Associates brokers $4.25 million purchase of industrial building in Morris County
- Ritschel represented the buyer, a private investor
- Jul 23, 2018
- 1 min read
ROCKAWAY, NJ — Newmark Associates announced the closing sale of a 38,700 s/f industrial building at 176 Franklin Ave. in Rockaway for $4.25 million. Charles Ritschel, senior sales associate with the firm, represented the buyer, a private investor, in the 1031 Exchange. Ritschel, who has had an ongoing client relationship with the buyer for the last several years, remarked: “This was a fantastic investment opportunity in a high demand northern New Jersey market. Both the seller and purchaser were able to greatly benefit from this deal. I am looking forward to working with both parties in the future.”