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- Hanson Negotiates Sale of Unique Office Space for 52% of the Original Asking Price - PARSIPPANY, N.J., AUGUST 24, 2009 - NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, is pleased to announce the recently completed sale of a 3,400-square-foot office condo space, located at 58-60 Main Street in Hackensack, New Jersey. NAI Hanson's Peter A. Cohen, Director of Government Services and Susan G. Trovati, Sales Associate, represented the [seller] in this transaction. "Located in Bergen County, this recently renovated office space was purchased by a start-up law firm who selected the building primarily because of its close proximity to the Bergen County Court House, which is situated one block away," said Cohen. "The 3,400-square-foot space is located on the 2nd floor of the building and is easily accessible to Interstates 80 and 95, the George Washington Bridge, and Route 4 and New York City. Ultimately, we are pleased to have been able to structure a deal for this well-located space, which sold for 52 percent of the original asking price. Built in 1985, 58-60 Main Street is a 3-story building, which is located in the center of Hackensack, within close proximity to New York City and the area's major thoroughfares. The property, which has recently undergone renovations to the building's interior façade and wiring, features 7 offices, a large conference room, 4 parking spaces at the nearby Atlantic Street Garage and wiring for T-1 Internet usage. "This type of transaction is relatively commonplace in today's economic climate, as the bid-ask gap continues to narrow between asking prices and actual sale prices," explained Cohen. "While the property did sell at a significantly reduced price, we believe that both parties got what they needed out of the deal. The sellers were looking to unload this asset from their portfolio and the buyers wanted to find a small space that will allow them to expand in the Bergen County area, while also allowing them convenient access to the courthouse and local amenities offered in Hackensack. " 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 www.naihanson.com.
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