South Hackensack, N.J. (March 30, 2021) – NAI James E. Hanson announces it has negotiated a lease for a 27,500-square-foot industrial building at 550 Huyler Street in South Hackensack, N.J. NAI James E. Hanson’s Thomas Vetter, SIOR, Jeffrey DeMagistris, SIOR, Scott Perkins, SIOR, CCIM, and Christopher Todd represented the landlord, Folman Company, and the tenant, Parts Authority, in the transaction.
550 Huyler Street is a single-story, 27,500-square-foot industrial building with an in-demand location in South Hackensack between Interstate 80 and Route 46. The building features 14’ ceilings, 2,500 square feet of air-conditioned office space, one drive-in door and one tailgate as well as 30 parking spaces. Aiming to capitalize on the strong demand for modern industrial space in the South Hackensack market, Folman Company recently completed a substantial capital improvement plan at the property. The renovations included the replacement of the building’s front doors, façade, roof, HVAC, bathrooms and carpeting in its office spaces as well as the complete painting of the interior and sealing of its floors. Additionally, new RAB LED lighting was added through the building.
550 Huyler Street’s adaptability paired with its easy access to the northeastern United States via Interstate 80 and the New Jersey Turnpike as well as its regional connectivity through Routes 4, 17 and 46 made it an ideal new warehousing and distribution location for Parts Authority. Founded in 1972, Parts Authority is one of the largest distributors of automotive and truck parts to the United States aftermarket auto parts industry, which serves commercial customers including installers, dealerships, fleets, and national accounts. Headquartered in Lake Success, N.Y., Parts Authority has over 185 locations across the Northeast, Mid-Atlantic, Ohio, Georgia, Florida, Texas, Arizona, California, Utah, and the Pacific Northwest.
“Although we have seen sustained demand for all classes of industrial assets in the Bergen County market, the pricing for new or recently renovated buildings like 550 Huyler Street continues to stand at record high levels,” said Vetter. “In such a deep and mature market, these types of properties represent the gold standard in industrial spaces and, as we saw with this transaction, are consistently able to attract long-term commitments from credit grade tenants like Parts Authority.”