Brokerage retained to market stabilized industrial property for sale
Westwood, N.J. (December 3, 2020) – NAI James E. Hanson announces it has negotiated a long-term lease renewal for an 11,360-square-foot industrial building located at 12 Sullivan Street in Westwood, N.J. NAI James E. Hanson’s Andrew Somple, SIOR, and John Schilp represented the landlord, 12 Sullivan Street LLC, and the tenant, Laguna 2 LLC in the transaction. Schilp and Somple were also hired by 12 Sullivan Street LLC to market the property for sale as an investment opportunity.
Founded in 2011 by an executive sales team with over 80 years of combined experience, Laguna 2 LLC specializes in merchandising and selling new, end of life, discontinued and refurbished consumer electronics across a wide variety of channels. The company’s Westwood space serves as its metro New York distribution center, enabling Laguna 2 LLC to drop ship thousands of packages per day to consumers via partnerships in flash commerce and e-commerce. In addition, the location provides added efficiency for Laguna 2 LLC in their direct purchasing of premium products from manufacturers.
With a strategic location in Bergen County, 12 Sullivan Street boasts proximity to major transportation arteries including the Garden State Parkway, Palisades Interstate Parkway, Routes 17 and 4, and is approximately thirteen miles from both the Governor Mario M. Cuomo Bridge and the George Washington Bridge. The 11,360-square-foot building features 2,060 square feet of dedicated office space, 19’ ceilings and two tailgates that help Laguna 2 LLC streamline the warehousing and transportation of electronics to its extensive customer base.
“Demand for industrial properties of all sizes remains high, especially for those located in the Bergen County market due to its strategic location and tremendous accessibility to the Greater New York City area,” said Somple. “We were pleased to work collaboratively with both the landlord and tenant to negotiate a deal that was mutually beneficial for both parties and allowed the tenant to continue to operate seamlessly out of this space.”
Schilp added, “With the completion of a long-term lease renewal stabilizing this asset, coupled with the property’s strategic location and the ever-rising demand for industrial space, 12 Sullivan Street is a highly attractive investment opportunity and we are confident that many buyers will be looking to capitalize on a red hot market. We look forward to leveraging our local market knowledge and industry expertise to market this property and secure a buyer on behalf of our client.”
Interested buyers should contact NAI James E. Hanson listing brokers Andrew Somple, SIOR, at 201-488-5800, ext. 151 or asomple@naihanson.com or John Schilp, at 201-488-5800, ext. 174 or jschilp@naihanson.com.
