South Hackensack, N.J. (October 21, 2020) – NAI James E. Hanson announces it has negotiated the sale of a 4,400-square-foot industrial building located at 11 Leuning Street in South Hackensack, N.J. NAI James E. Hanson’s Justin Allessio represented the seller, Larjil Realty Holding Corp, and the buyer, Premier Group Holdings, in the NAI James E. Hanson exclusive transaction.
Only 10 miles away from New York City, 11 Leuning Street is a supremely flexible industrial building featuring 800 square feet of office space, one tailgate, and 20’ ceilings. The building also boasts ideal accessibility to major transportation arteries including Interstate 80, US-46, the New Jersey Turnpike and George Washington Bridge. The property is also 18 miles from Ports Newark & Elizabeth and 19 miles from Newark Liberty International Airport.
Previously based in Saddle Brook, Premier Group Holdings is a quickly growing commercial glass installation contractor that was searching for a property to better fit their ongoing needs. Featuring close proximity to New York City and adaptability to their business’ operations, they recognized 11 Leuning Street as the ideal location for their new headquarters. Negotiations began in late summer 2019 ending with the owner eventually taking the property off the market. After the emergence of COVID-19, the property owner decided to market the property for sale again. Throughout the entire process, NAI James E. Hanson maintained communications with its client and the original would-be buyer, Premier Group Holdings, and reengaged to close the transaction once the property was marketed for sale again.
“Despite the effects on the economy due to COVID-19, we are still seeing strong demand for industrial space in the South Hackensack market,” said Allessio. “Maintaining relationships as well as being aware of market trends have always been two critical factors in our approach to client representation, but in the midst of the pandemic they have become even more crucial in ensuring we can help our clients find fair market value for their assets in a crowded market.”