Hackensack, N.J. (September 9, 2020) – NAI James E. Hanson announces it has negotiated the sale of a 30,000-square-foot industrial building located at 80 Commerce Way in Hackensack, N.J. NAI James E. Hanson’s Scott Perkins, SIOR, and Chris Todd represented the seller, Canaan Korean Community Church, in the transaction with the buyer, Pilgrim Mission Church, who was represented by William Lee of Coldwell Banker Fort Lee.
Situated on 2.19 acres, 80 Commerce Way is a 30,000-square-foot single-story industrial/flex building that features 14’ ceilings, 85 parking spaces, one punch-out for a tailgate and one drive-in. The highly adaptable property boasts an accessible location with close proximity to Route 4 and is also a short distance from Route 17, Interstate 80 and the George Washington Bridge. While suited to a wide range of uses, the industrial property was converted to a church by the previous owner which made it an attractive investment for the buyer, Pilgrim Mission Church, another local church searching for a new home in the area.
“On the surface, it may seem serendipitous that the buyer we helped our client secure was also a church with similar space needs and operating objectives, but this transaction can, in fact, be chalked up to our successful, tailored marketing campaign for the property,” said Perkins. “While we leveraged our depth and breadth of expertise in the industrial sector to market the building to a range of prospective users, at the end of the day we were able to identify a buyer that was a perfect fit for the property’s former usage and could also take full advantage of the existing buildout.”
For more insights on this submarket and a deeper look at the northern New Jersey industrial market, please download NAI James E. Hanson’s Q2 2020 Northern and Central New Jersey Industrial Report, which highlights market trends and key data in the industrial asset class throughout the region.