3 & 4 North Street in Waldwick, New Jersey underscore demand and growth potential

Waldwick, NJ – Global commercial real estate advisor Avison Young today announces the sale of 3 & 4 North Street in Waldwick, New Jersey – two properties in the heart of Bergen County that underscore the demand and growth potential in one of America’s most competitive industrial markets.

Sold to CoreOne Industrial for an undisclosed amount, Avison Young’s Marc Krieger was the exclusive advisor and agent for the seller, Waldwick North, LLC (“Waldwick North”). With over 41 years of active sales and broker experience in the northern New Jersey market, Krieger has worked extensively with similar industrial assets and has been the leasing agent for 3 and 4 North Street for 31 years.

The shallow-bay buildings at 3 and 4 North Street, known as Waldwick Center, comprise a combined 63,599 square feet (sf); 3 North Street is 15,640 sf and 4 North Street is 47,959 sf. Both buildings house long-standing, stable tenants, a majority of whom have been in place ranging from 13 to 33 years. At the time of sale, both properties were fully leased. With long-term leases and positive cash flow in place, these assets on North Street are a strong part of any industrial portfolio.

“Helping Waldwick North identify a buyer that understands where these assets fit in the overall industrial marketplace was incredibly important for us, so it was an honor to see CoreOne Industrial add North Street to their portfolio,” said Krieger. “These two flex properties are in a thriving location that has evolved over the last several decades to take on a tenant mix that caters to light manufacturing, service, recreational and warehouse operations supporting the local community – making the Waldwick Center a very attractive location for community-based B-to-B and end-user businesses.”

New Jersey’s vacancy rate for Q1 2025 sits at 7.8%, below the national average of 8.7%. Although the average asking rent for the state has dipped slightly by 1.62% to $15.76 since year end 2024, this remains above the national average of $10.36. Favorable positioning outside New York City, with proximity to major thoroughfares for warehousing and other industrial businesses, will continue to make Waldwick and Bergen County attractive industrial destinations.