Hackensack, N.J. (October 23, 2017) – NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announces they have negotiated the sale of a 5,800-square-foot industrial building at 174 Union Street in Hackensack, N.J. NAI Hanson’s Vice President Anthony Cassano represented the seller, Ninth Avenue Properties, in the sale to Petaks Kosher Foods Catering and also negotiated a leaseback of 300 square feet of office space at the location on behalf of the seller.
Currently located in Fair Lawn, N.J. Petaks Kosher Foods Catering has been in business since 1928, offering the highest standards in kosher cuisine to attract customers from Bergen and Passaic Counties and beyond. The sale of the property will allow them to expand their business to an additional location and fulfill more orders.
174 Union Street is a two-story industrial/USDA processing plant with full cooking, preparation and refrigeration equipment as well as second-floor storage and six parking spaces. The building provides easy access to Intestate 80 as well as Routes 17, 46 and 4 making it an ideal facility from which to fulfill catering orders throughout the area. The seller, Ninth Avenue Properties, will be leasing 300 square feet of office space in the building as part of the sale-leaseback agreement.
“When one thinks of meal and food delivery, particularly in the Bergen County market, companies such as Amazon, Blue Apron and Hello Fresh immediately come to mind,” said Cassano. “A deal like this shows that local catering businesses are also looking to expand their operations in this market and searching for smaller, well-located spaces that enable them to reach even more customers. Our experience in sale-leaseback deals enabled us to work with the seller to find an ideal buyer that would enable them to continue to occupy the space and find a new owner for the building.”
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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 400 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.