Rockaway sees industrial sale and new retail openings this summer

JLL Capital Markets announced on July 10 that it completed the sale of an 81,000-square-foot shallow bay industrial facility located at 385 Franklin Avenue in Rockaway. The transaction involved LM Real Estate Partners as the seller and NorthBridge Partners acquiring the asset.

Managing Directors Nicholas Stefans and Jason Lundy along with Senior Analyst Luke Ceccoli led the JLL Capital Markets team that represented the seller in this deal. They noted that shallow-bay industrial properties in Northern New Jersey continue to attract significant capital from investors who recognize durable demand.

The building features a multi-tenant layout designed for warehouse and distribution space serving eleven different tenants with an average suite size of 7,400 square feet. It includes twenty-two-foot clear heights and flexible loading configurations that accommodate thirteen dock doors across the facility.

Strategic location advantages

This property benefits from its proximity to major transportation corridors including being less than one mile from Route 46 and two-and-a-half miles from Interstate 80. This connectivity enables efficient distribution throughout Northern New Jersey and into the broader New York metropolitan area for local users.

Stefans stated that investors see these assets as durable because of demand from local distribution, light manufacturing, and specialty logistics users in the region. The sale reflects a continued trend where capital flows toward industrial spaces that support regional supply chains.

Local retail expansion continues

In related commercial news for Rockaway residents, Aldi is set to open its second supermarket location at 327 Mount Hope Avenue with a grand opening scheduled for June 25. The value-focused grocer plans to mark the event with giveaways and prizes for early shoppers.

The first two hundred customers will receive a gift card worth up to $100 along with a free tote bag filled with Aldi brand products during the festivities. An official ribbon-cutting ceremony is scheduled to take place at 8:45 a.m. on that day according to the grocer.

Founded in Germany sixty-four years ago, Aldi has opened nearly 2,800 stores nationwide since its U.S. debut in 1976 and is known for low prices and private-label brands. The store will offer dairy, eggs, produce, meat, seafood, deli items, frozen foods, bakery goods, snacks, and cereals.

Water franchise growth

Purity Water announced on June 15 that it completed multiple lease transactions in New Jersey as part of a strategic expansion across North and Central Jersey. The company was founded in Rockaway in 2022 with the goal of making high-quality purified and alkaline water more accessible.

JLL Managing Director David Townes and Vice President Alana Friedman partnered with Purity Water to help drive this franchise program which kicked off last year. The concept specifically targets opportunities located within high-traffic shopping centers that are anchored by grocery stores.

Townes noted that the brand has created a concept that feels incredibly timely in today's retail environment while addressing water quality and plastic waste issues. According to Purity Water, one five-gallon reusable water bottle replaces about thirty-eight single-use bottles for consumers.

The company's mission involves reducing reliance on single-use plastic bottles by combining advanced water purification technology with a neighborhood resource model. This expansion represents a growing local business that started in Rockaway and is now scaling its operations through new retail leases.