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PARSIPPANY, N.J, JULY 14, 2009 -NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, recently completed a new 1,191-square-foot long-term retail lease agreement on behalf of Tasti D Lite, a nationally recognized dessert franchise, at 110 Newark Avenue in Jersey City, New Jersey. NAI Hanson's Michael Jamgotchian, sales associate, represented the tenant in this transaction, while George Twill, president of Twill Realty LLC., represented the landlord, SK Properties. "Overall, in this challenging economy, it has been our experience that mixed-use properties, such as 110 Newark Avenue, remain attractive to well-established retail tenants, such as Tasti D Lite, because they offer a wider range of amenities and services to the community as a whole, which helps stimulate growth," said Jamgotchian. "In this specific transaction, Tasti D Lite was in search of a convenient Jersey City retail location, which not only benefits from amply and steady foot traffic, but is also easily accessible to public transportation. After a thorough search, we believe that this space will meet all of Tasti D Lite's operational and location requirements." Located in the heart of Jersey City, New Jersey's second largest city behind Newark, 110 Newark Avenue, also known as Grove Pointe, houses 525 luxury residential units comprising an area of 492,419 square feet. The property sits conveniently across the street from the Grove St. PATH station, which provides easy access to New York City, Newark, and Journal Square and is also within close proximity to Interstate-78. "In addition to this space's tremendous location, this property is also home to two nationally established Retail Businesses- Starbucks and Duane Reade - which will further attract customers to this Tasti D Lite location," explained Jamgotchian. "We are thrilled to have been involved in such a successful transaction on behalf of a well-established 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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