Teaneck Property Sells for $6.1M, Company Headquarters Planned
Former Beacon Looms property on Alfred Avenue is sold.
The site of a former curtain and bedspread importer on Alfred Avenue has sold for $6.1 million to a firm planning to open a distribution center and headquarters at the industrial building, according to a published report.
Grant Electrical Distributors plans to setup at the 184,000 square foot property, nreionline.com reported Monday. A company representative could not be immediately reached.
Michael Schaible of Lee & Associates New Jersey, who represented the seller, said the company picked the Teaneck location for its proximity to the George Washington Bridge and major highways, according to the report. Schaible is quoted as saying the company will “rework” the decades old building.
The former owner, Beacon Looms, had announced it was closing after 97 years in business.