Hackensack, N.J. (September 7, 2022) – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces the $1.5M sale of a .48-acre land site that was recently site plan approved for the construction of a 15,000-square-foot day care center at 547-555 Main Street in Hackensack, N.J. NAI James E. Hanson’s Jonathan Kristofich represented the seller in the transaction with buyer, Yasmeen Fatima Property, LLC, who was represented by Devin Perez of Sotheby’s Prominent Properties.
Located in downtown Hackensack, 547-555 Main Street is currently comprised of two separate lots improved by a two and one half-story mixed-use building on each lot. Located along Hackensack’s rapidly redeveloping Main Street, the properties are in close proximity to approximately 2M square feet of Class A office space, The Shops at Riverside, Farleigh Dickinson University’s metropolitan campus, thousands of new luxury apartments, Route 4, several New Jersey Transit bus routes and New Jersey Transit’s Anderson Street Station.
After 40-years of operating a very successful family chiropractic center, the seller tapped NAI James E. Hanson’s to secure a buyer for the properties. The firm was able to quickly identify a buyer who was interested in starting a new business in Hackensack due to its prime location in a dense and rapidly growing city that now offers a universal pre-k4 program to its residents. This spring, the buyer obtained site plan approval from the Hackensack Zoning Board to build a 15,000-square-foot day care center, which was designed by Cheryl Schweiker, an associate at Jarmel Kizel Architects and Engineers, to meet the growing demand for childcare services in the area.
“Finding suitable land sites for redevelopment in Hackensack is not an easy feat,” said Kristofich. “In this transaction, it was a pleasure to work with the long-time owner of the property in navigating them through the land entitlement process, which can be time consuming. All in all, the transaction took 54 weeks from contract signing to closing, inclusive of the due diligence period and approval process. Kudos to the buyer and Devin Perez for assembling the A-team of third-party professional to complete the design of the building and submit to the Zoning Board in a timely fashion.”
Schweiker added, “I welcomed the opportunity to provide a solution to accommodate a childcare center on this challenging site. Safety and well-being for the end user as well as adhering to the strict guidelines of state licensing resulted in a facility that benefits the community.”