South Hackensack, N.J. (March 17, 2020) – NAI James E. Hanson has negotiated three leases totaling 86,774 square feet at 30 Wesley Street in South Hackensack, N.J. NAI James E. Hanson’s team of Andrew Somple, SIOR, Scott Perkins, SIOR, Justin Allessio, and Christopher Todd represented Boston-based property owner AEW Capital Management, L.P., in the transactions, which included a new lease with P&S Food Service, a lease renewal with NJ Label, and a temporary lease with Walmart to accommodate for holiday overflow.
Situated in the heart of South Hackensack, 30 Wesley Street is a 246,000-square-foot industrial building nestled one block away from Route 80. Its location affords tremendous accessibility to the New Jersey Turnpike, Routes 17 and 46, the Garden State Parkway, and New York City. There is 58,000 square feet of available space that features ample parking, five tailgates and one drive-in, 30 Wesley Street is well-equipped to accommodate the needs of a range of industrial users.
New tenant P&S Food Service, a freight shipping truck company that provides restaurants and stores with refrigerated beverages and food, relocated to the property from its previous location in Hackensack, N.J. to accommodate for their growing space needs.
NAI Hanson also negotiated a lease renewal at the property with NJ Label, a company that specializes in labels, folding cartons, and special packaging. Originally brought to the property by Somple, NJ Label is a long-term tenant that once again opted to renew their lease to continue to take advantage of 30 Wesley Street’s flexibility and accessible location.
Additionally, when Walmart (with a location at Teterboro Landing) was facing space shortages in December, NAI Hanson and AEW were able to successfully negotiate a lease within days to help the company meet their urgent requirement for overflow space to store inventory in the midst of the holiday rush.
“These three separate transactions showcase NAI Hanson’s unmatched ability to close industrial deals, no matter the timeline or unique circumstances,” said Somple. “This is why so many institutional owners like AEW trust our team to represent their buildings in one of the nation’s most competitive industrial markets.”