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HACKENSACK, N.J, JUNE 21, 2009 -NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, announced today that it has just completed a 51,000-square-foot long-term office lease renewal agreement at 100 Hollister Road in Teterboro, New Jersey. NAI Hanson's Scott K. Perkins, SIOR, Managing Director of Corporate Services and Andrew Somple, SIOR, Senior Vice President, represented the tenant, Swift Electrical Supply, in this transaction. The property owner, KTR Capital Partners, was represented in house by Steve Pron. "Overall, deals are still getting done in the commercial real estate market. In order to be successful, all parties involved in the lease negotiation process must exercise creativity and flexibility in order to overcome the obstacles that have been created by this economic downturn," remarked Perkins. "In this specific transaction, we advised our client, who has been a tenant in the building since 2003, to renew their existing lease early, while taking into consideration favorable market conditions. In addition, this quality asset due to its centralized location, satisfies their current operational needs, coupled with its competitive price and the importance and stability of having a reputable company, such as KTR Capital Partners, as a landlord." Built in 1966 and situated on a 10-acre parcel of land, 100 Hollister Road is a 175,000-square-foot office building, which is strategically located in Bergen County, within minutes of the Teterboro Airport. "At NAI Hanson, we are fortunate enough to have a broad range of services and tools at our disposal which allow us to remain successful in this environment," added Somple. "We are thrilled to have been successful in completing this deal on behalf of such an outstanding client." About NAI James E. Hanson Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise. NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with over 325 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company's Hackensack office at 201-488-5800 or visit http://www.naihanson.com/.
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