Westwood, N.J. (May 5, 2021) – NAI James E. Hanson announces it has negotiated the sale of 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 seller, 12 Sullivan Street LLC, and the buyer, James Bogush, in the transaction.
After successfully negotiating a full-building lease renewal with a long-term tenant at 12 Sullivan Street in November 2020, NAI’s Andrew Somple and John Schilp were once again retained by the property owner to market the stabilized industrial building for sale as an investment opportunity.
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 for streamlined warehousing and transportation.
“For commercial real estate investors searching for stability, rent growth and future appreciation, industrial properties stand out among other sectors due to the projected long-term high demand for these assets, particularly in Bergen County,” said Somple. “After negotiating a long-term lease on behalf of our client last year, we were pleased to continue to work with them and leverage our local market expertise to secure a suitable buyer that recognized the tremendous investment opportunity this property offers.”
