Hackensack, N.J. (May 16, 2022) – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has negotiated the sale of a 22,000-square-foot auto retail building located at 55 Midtown Bridge Approach in Hackensack, N.J. NAI James E Hanson’s Anthony J. Cassano represented both the buyer, 55 Bridge Management LLC, and the seller, Globe Tire Services, in the transaction.
Located in the heart of Hackensack’s Redevelopment Zone, 55 Midtown Bridge Approach is a freestanding auto-repair retail space sitting on 1.5 acres. Situated on a high-visibility lot between two local roads, the property’s central location allows for quick access to some of the region’s major roadways, as well as major retailers such as CVS Pharmacy, McDonald’s, and AutoZone. The building also features 30 plus parking spaces and expansive building signage, including three pylon signs offering prime exposure in the property’s high traffic area. In addition, the property is adjacent to the high-profile Print House project on the former site of the Bergen Record and nearby several other large-scale redevelopment projects that make it an exceptional opportunity to capitalize on the city’s continued population growth.
As a result of NAI James E. Hanson’s marketing strategy, the buyer, a successful tenant of the building, will be utilizing the property to expand upon the existing on-site auto repair and car wash services through the addition of a full-service body paint and repair service.
“This deal further underscores our team’s unique ability to construct marketing strategies that generate significant demand for retail spaces in areas of strong and fast-moving development across New Jersey,” said Cassano. “We were happy to lean on our significant experience in Hackensack to bring this transaction across the finish line and help a business expand their operations as the city continues its strong growth.”