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Industrial property in Garfield fetches $1.6M

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A Garfield industrial property has sold for more than $1.6 million, according to real estate services firm Marcus & Millichap.

The 23,154-square-foot property, located at 160 Belmont Ave., was sold by a partnership to a private investor, Marcus & Millichap said. Neither party was disclosed. The building contains about 13,354 square feet of light industrial space and about 8,800 square feet of office space.

Ben Sgambati and Alan Cafiero of the New Jersey office had the exclusive listing on the property. Steve Marani, as well as Sgambati and Cafiero, secured and represented the buyer.

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