Wayne, N.J. (June 6, 2022) – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has negotiated the sale of a 117,340-square-foot industrial building at 100 Demarest Drive in Wayne, N.J. NAI James E. Hanson’s Team Perkins & Todd comprised of Scott Perkins, SIOR, Chris Todd, SIOR and William Ericksen represented the buyer, CenterPoint, and worked closely with CenterPoint Investment Officer Bryan Won throughout the transaction with the seller, 100 Demarest Drive, LLC.
100 Demarest Drive is situated on 10.5 acres less than a mile from the intersection of Route 23 and Interstate 80. Fully leased with 26’ clear ceiling heights and a highly adaptable layout, the building was an ideal acquisition for CenterPoint, one of the nation’s fastest growing institutional industrial real estate investors, as they continued to expand their portfolio in the northern New Jersey market.
The acquisition is the latest success story for Team Perkins & Todd’s relationship with CenterPoint. In late 2021, the team also helped negotiate a long-term full-building lease at a newly constructed 182,000-square-foot spec warehouse built by CenterPoint adjacent to Port Newark. The team’s counsel and guidance were critical in CenterPoint’s ability to negotiate a deal that saw a Fortune 500 company commit to a rent that was 27 percent above initial pre-construction projections.
“We continue to see institutional capital flowing at unprecedented rates into the northern New Jersey industrial market,” said Perkins. “With virtually zero available buildings in many markets surrounding the Port as well as the New Jersey Turnpike, these investors are increasingly looking further west to markets like Wayne. Through leveraging our on the ground presence and local relationships, this deal exemplifies our ability to help our clients find ideal acquisitions and meet their business goals in this competitive market.”
