NAI Hanson Negotiates Sale of Retail Building in Englewood, N.J.

Jun 7, 2018

Englewood, N.J. (June 7, 2018) NAI James E. Hanson has arranged the sale of a 3,321-square-foot retail building located at 491 Grand Avenue in Englewood, N.J. NAI Hanson’s Pablo Castro represented the seller, 491 Grand Ave. LLC, in the sale to NWR Realty Corp.

Currently unoccupied, the two-story building features two retail storefronts on the main level with the potential to be opened into one large space and a two-bedroom apartment on the second floor. The location boasts a strategic location nearby Route 4 with parking for twelve cars. The buyer plans on converting the retail space into offices for his business.

“With rapidly rising rents across all commercial real estate sectors in Bergen County, we continue to see business owners looking to purchase buildings to ensure favorable long-term real estate costs,” said Castro. “The size of the building and the ability to open the two storefronts into one space provided the buyer with the flexibility and desired location they were seeking. Our experience working with sellers in this competitive marketplace ensured we were able to secure a fair market value for the asset and enable them to capitalize on strong property values in the local market.”

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