Devli Real Estate acquires 118 Rte. 17 North - a 67,000 s/f flex industrial/retail asset

Upper Saddle River, NJ Devli Real Estate completed the acquisition of 118 Rte. 17 North, a 67,000 s/f flex industrial/retail asset situated on 6.3 acres with prime highway frontage. The property is strategically positioned along the Rte. 17 corridor, one of Northern New Jersey’s most active and supply-constrained commercial sub-markets. The acquisition further strengthens the firm’s presence in Northern New Jersey. Terms of the transaction were not disclosed. 

The property benefits from direct highway frontage and visibility along one of Bergen County’s most heavily trafficked retail corridors, providing tenants with exceptional access to dense consumer populations, regional transportation infrastructure, and the broader New York metropolitan area. The property’s flexible building configuration and low-coverage footprint accommodate a diverse mix of industrial, retail, and service-oriented users – a profile that has become increasingly scarce in Bergen County given limited new development and a continuing shortage of well-located assets. With 19 drive-in doors and a highly divisible layout, the asset offers a versatile footprint serving the trade, service, and light industrial users that drive persistent demand in the corridor. 

“This acquisition advances our strategy of pursuing infill industrial and flex assets in supply-constrained Northeast submarkets, where land scarcity, restrictive zoning, and proximity to dense consumer populations continue to support tenant demand and long-term rent growth,” said Christopher Devli, principal at Devli Real Estate. “The combination of low-coverage flex industrial space with premier retail frontage along Rte. 17 is exceedingly rare in Bergen County – and is precisely what drew us to this asset.” 

This acquisition aligns with Devli Real Estate’s broader strategy of targeting high-quality industrial and flex assets in infill, high-barrier-to-entry markets supported by long-term demand drivers and limited competitive supply. Devli Real Estate remains actively focused on identifying additional investment opportunities throughout Northern New Jersey and continues to engage with owners, operators, and brokerage partners on assets that align with this investment strategy.