Hackensack, N.J. (April, 2016) – NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announced the team of Anthony J. Cassano, Vice President and Pablo Castro, Sales Associate, have brokered three industrial deals in Hackensack, N.J. The similarity in the properties core features and transaction prices support the trend that prime New Jersey industrial assets are raising the demand and prices of smaller industrial assets in secondary markets such as Hackensack.
The largest of the deals is the sale of a 4,200 square foot, freestanding industrial asset located in the heart of Hackensack at 146 Porter Street. The property has 250-square-feet of office space, a drive-in bay and four parking spots. The private buyer, who was represented by Coldwell Banker Commercial NRT’s, Douglas Feigel, plans to use the property to store vehicles and car parts. The property is located just off I-80 and minutes from Route 17.
“We represented the private seller in this transaction who decided to cash-in on the high per-square-foot prices being paid for similar assets in Bergen County and specifically Hackensack,” commented Cassano about the sale of 146 Porter Street.
Cassano and Castro also brokered the sale of 252 Hudson Street in Hackensack, a recently renovated flex-industrial building with an overhead door and the option to sub-divide for two tenants. The freestanding building boasts four parking spaces as well as three lavatories. The property is located near the Hudson River and just minutes from I-80 and Routes 17 and 46. NAI Hanson represented the seller and the buyer in the transaction.
“The flex-industrial property at 252 Hudson Street was recently renovated making it an attractive option for anyone looking for well-located space with a smaller footprint,” added Castro. “This property drew interest from a number of buyers but in the end was sold to a contractor from Brooklyn who was attracted to the price compared to the astronomical price per-square-foot across the river.”
The team also recently leased a 3,100-square-foot industrial property located at 95 Myer Street in Hackensack to ARDH Junk LLC. The property has office space on the first and second floor, 18-foot ceilings and six parking spaces. The corner lot building will be used as a Junkluggers, a junk removal company, Bergen County location offering great access to I-80 and Route 17. Chris Conway of the Goldstein Group represented the lessee while NAI represented the Landlord, 95 Myer Street LLC
“Hackensack as a secondary market continues to strengthen as well-located industrial assets become more and more sparse,” said Cassano. “We’re seeing high demand for smaller industrial buildings but are also seeing prices come up for these assets due to lack of inventory in the marketplace in prime locations.”
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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 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.