Hackensack, N.J. (June 12, 2019) – NAI James E. Hanson announces it has negotiated the sale of a 65,677-square-foot industrial building at 215 South Newman Street and an 18,000-square-foot industrial building at 211 South Newman Street in Hackensack, N.J. to The Stro Companies. NAI James E. Hanson’s Scott K. Perkins, SIOR, Andrew Somple, SIOR, and Justin Allessio represented the seller, Spartech, in the NAI James E. Hanson exclusive transaction.
Situated just off of Interstate 80, the two properties boast an ideal location less than seven miles from the George Washington Bridge, 12 miles from the Lincoln Tunnel, and less than 20 miles from Newark Airport and are well-suited to a wide range of industrial uses.
For almost three decades, the Stro Companies have built a reputation for unlocking value in the industrial sector. Backed by a highly experienced team and deep market knowledge, the Stro Companies identifies unique opportunities in the industrial market and drive results on behalf of their partners and investors.
“Having a thorough knowledge of the acquisition criteria of the investment community allowed NAI Hanson to choose the right investor for their client, said Perkins. “This market knowledge allowed us to help our clients position their properties to quickly find buyers and tenants and realize the tremendous value of their assets in a highly-competitive market.”
Working on behalf of their client who was looking to capitalize on record-high industrial pricing, NAI James E. Hanson was able to identify Stro as the ideal buyer and help facilitate a sale. Stro plans on making significant capital improvements at both buildings to create modern and adaptable industrial spaces in line with the demands of today’s industrial tenants.