Carlstadt, N.J. (June 21, 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 26,112-square-foot industrial building at 455 Barell Avenue in Carlstadt, N.J. NAI James E. Hanson’s Thomas Vetter, SIOR; Jeffrey DeMagistris, SIOR; Scott Perkins, SIOR, CCIM; Chris Todd, SIOR; and William Ericksen represented the seller, 455 Barell, LLC, in the transaction with the buyer, Southpeak Group.
455 Barell Avenue is a 26,112-square-foot industrial building with 3,000 square feet of office space, 16’ ceiling heights, three loading docks, 29’ x 31’ columns, a wet sprinkler system and 19 parking spaces. The building is strategically positioned within the heart of the Meadowlands and has close proximity to Routes 3, 17, 46, 80 and the New Jersey Turnpike.
The seller tapped NAI James E. Hanson to market the property for sale to capitalize on the region’s competitive industrial real estate market. The buyer had been looking to invest in the northern New Jersey industrial market and was immediately interested in 455 Barell Avenue due to its location within the Meadowlands and ideal investment potential. Additionally, NAI Hanson Management will handle management of the building moving forward.
“Demand continues to surge for quality industrial properties in northern New Jersey’s competitive market,” said Vetter. “Within this market, properties like 455 Barell with premium access to the Port and Meadowlands submarkets continue to stand out. The owners of these properties remain in a strong position to maximize their assets’ values and we continue to be proud to provide the resources that sellers need to act quickly and decisively to capitalize on the current market.”