Hackensack, N.J. (February 1, 2022) – NAI James E. Hanson announces it has negotiated the sale of a 6,500-square-foot industrial building at 141 English Street in Hackensack, N.J. NAI James E. Hanson’s Justin Allessio, John Schlip and Andrew Somple, SIOR, represented the seller, English Street Realty, LLC, and the buyer, Kearny Investment Group.
141 English Street is a 6,500-square-foot industrial flex building approved for a variety of uses including general manufacturing, research and business/vocational schools. Located in proximity to Routes 17 and 46 as well as Interstate 80, the building features a wet sprinkler system, electric system, and 16’ ceilings. Each of the building’s two suites also include a dedicated drive-in.
Recognizing their unmatched expertise and track record of proven results in the northern N.J. industrial market, the seller tapped NAI James E. Hanson to market the property for sale in hopes of capitalizing on the demand for quality industrial space in the Garden State. There was a tremendous amount of activity on the property when it first came to the market and the property immediately caught the attention of Kearny Investment Group, a real estate investor and developer based out of New York that was looking to expand its portfolio in New Jersey. The buyer plans to renovate the building and market it for lease to capitalize on the demand for modern and accessible multitenant industrial space in the surrounding area.
“The multitenant industrial sector continues to see strong demand from small and medium-sized businesses across northern New Jersey,” said Allessio. “As a result, real estate investors hoping to capitalize on the strong underlying fundamentals are increasingly flocking to the sector as well. Our marketing of this property sought to tap into that strong investor demand to help our client secure a buyer and we look forward to seeing what is next for this property.”