Elmwood Park, N.J. (March 25, 2020) – NAI James E. Hanson announces it has completed the sale of a 16,000-square-foot industrial/flex building at 55-57 Bushes Lane in Elmwood Park, N.J. NAI James E. Hanson’s Josh Levering, SIOR, and Nick DePaolera represented the seller, RN Foster Associates LLC, and Mission Realty represented the buyer, Bushes Lane Realty Corp.
The sale of 55-57 Bushes Lane is the last of a myriad of transactions negotiated by NAI James E. Hanson on behalf of RN Foster Associates. NAI James. E. Hanson has had a long-standing relationship with the seller that extends over two decades. Levering and his team have negotiated numerous deals on behalf of the client over the years. In addition to 55-57 Bushes Lane, they previously negotiated acquisitions, leasing and then sales of two other office/flex properties within the three-building portfolio owned by RN Foster Associates, all located on Bushes Lane in Elmwood Park.
Josh Levering stated, “55-57 Bushes Lane is a 16,000-square-foot first class, free-standing, flex warehouse and manufacturing building situated on 0.70 acres. Included was about 3,500 square feet of first-class office space that was fully renovated in 2015. Building features include platform loading with drive-in capabilities, ample parking, air conditioning throughout and very heavy power. Bushes Lane is an ideal park-type setting that includes other businesses including hi-tech, pharma, construction and other alike businesses. The location is great as it provides immediate access to Routes 80, 46, 21 and 208 as well as the Garden State Parkway.”
Levering said of the deals, “Throughout our twenty-plus year relationship we’ve established a meaningful partnership that has enabled NAI to become trusted advisors and work with RN Foster Associates on numerous transactions together. Our commitment to providing superior client service coupled with our deep local market knowledge allows the collaborative service of experts with varying expertise to enhance and create tailored real estate solutions that are unique to their needs.
DePaolera added, “Our team was able to deliver once again on behalf of our client and close on this fairly complicated transaction. Consistency has been key and we along with our client are very pleased with the outcome.”