Mahwah, N.J. (June XX, 2022) – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces the sale of a 54,000-square-foot industrial building at 46 Industrial Avenue in Mahwah, N.J. NAI James E. Hanson’s Russell J. Verducci, SIOR, and Eric Demmers represented the seller, Hendon Realty Associates, LLC, in the transaction.
Located on six acres, 46 Industrial Avenue is a 54,000-square-foot industrial building equipped with solar panels, 16’ ceilings, 30’x20’ column spacing and close proximity to Routes 17, 87 and 287. The nearby Franklin Turnpike provides easy access to amenities such as local eateries and shopping.
Hendon Realty Associates recognized that the current industrial market provides owners with a unique ability to capture premium values from their assets across northern New Jersey. Leveraging NAI James E. Hanson’s local contacts, the owner was able to identify a buyer interested in acquiring the well-located property in an off-market deal. The new buyer plans to use the building as an e-commerce distribution hub.
“The high level of competition and the scarcity of useful and beneficial locations in the industrial market right now has increasingly forced industrial buyers to prioritize off-market deals,” said Verducci. “This can present an unanticipated opportunity for a property owner which is both exciting and nerve-wracking. However, our extensive market knowledge and experience can help sellers seamlessly navigate these situations to ensure the deal is to be completed efficiently and profitably.”