Ridgefield Park, N.J. (January 31, 2022) – NAI James E. Hanson announces it has negotiated the sale of a 3.5-acres of land at 100 Industrial Avenue in Ridgefield Park, N.J. NAI James E. Hanson’s Andrew Somple, SIOR, Justin Allessio, and John Schilp represented both the seller, Dowling Fuel Company, and the buyer, Westphal Affiliated Waste Services Inc., in the transaction.
100 Industrial Avenue is a 3.5-acre property located along the Hackensack River less than one mile from the intersection of Interstate 80 and the New Jersey Turnpike. Previously serving as an unused industrial fuel storage site, its owner tapped NAI James E. Hanson to create a marketing strategy that would identify a buyer who could find a second life for the well-located site.
Somple and Allessio were able to quickly identify Westphal Affiliated Waste Services as an ideal buyer for the property. Established in 2003, Westphal Affiliated Waste Services is one of northern New Jersey’s most successful dumpster container rentals and garbage service providers. With a growing fleet of vehicles, Westphal Affiliated Waste Services sought to expand its parking capabilities and recognized that 100 Industrial Avenue would make an ideal parking lot for the company.
“Northern New Jersey’s ongoing industrial boom has fueled a robust marketplace for land,” said Somple. “While not all sites are suitable for conversion to mega warehousing and distribution facilities, the growing need for industrial parking provides smaller properties like 100 Industrial Avenue with tremendous potential due to the exterior storage capabilities. In a competitive market like this, our understanding of the market and local contacts provides us with the insight we need to help sellers identify the true value in their land and buyers navigate what continues to be a very challenging market.”