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Mount Olive commercial property sells for $2.35M

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A food-processing facility is coming to a formerly vacant piece of land in the International Trade Center in Mount Olive.

CBRE Group, New Jersey’s largest commercial real estate broker, announced the $2.35 million sale of 750 Clark Drive on Thursday.

The buyer is Fratelli Beretta U.S.A., a family owned meat processing corporation. Fratelli Beretta has already broken ground on the 12-acre site, with plans to construct a 180,000-square-foot facility.

“This sale represents a significant transaction in New Jersey and the Morris County region,” Stephen Sander, CBRE vice president, said in a news release. “We’re especially excited about the deal because we have not seen a major land development sale of industrial property in Morris County in quite some time. The township of Mount Olive, as well as the Morris County Economic Development Corporation, played a substantial role in the trade.”

Sander, along with Thomas Mallaney, first vice president, represented the seller, Exeter Properties.

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Eric Strauss

Eric Strauss

Eric Strauss is the digital content editor for NJBIZ. He has been a reporter and editor for newspapers in New Jersey and Pennsylvania, as well as for a number of websites. You can contact him at erics@njbiz.com or @acerimrat on Twitter.

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