NAI Hanson Arranges Sale of Two Properties in Englewood, N.J. for Future Redevelopment
Englewood, N.J. (June 15, 2017) – NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announces it has brokered the sale of two properties located at 229 and 231 South Dean Street in Englewood, N.J. NAI James E. Hanson’s Anthony Cassano represented the buyers and sellers both transactions.
229 South Dean Street is currently occupied by a 3,400-square-foot, single-story car wash and auto detailing building. 231 South Dean Street is a two-story, private residence on the adjacent lot. Both properties may be razed to allow for redevelopment of the sites. The highly-visible property offers significant redevelopment opportunities owing to favorable local demographics and its close proximity to the New Jersey Turnpike and Route 4 and the New York City metro area.
“The lack of easily developable land in Bergen County makes redevelopment sites like 229 and 231 South Dean Street rare in this market,” said Cassano. “Working with the sellers and the buyer and utilizing my market knowledge enabled me to negotiate a deal that was mutually beneficial for all parties to allow the buyer to begin plans for redevelopment. This sale will bring an exciting new development project to Englewood while providing the buyer with a strong value-add investment property.”
NAI James E. Hanson has recently published their 1Q 2017 Northern and Central New Jersey Industrial report highlighting notable trends and data for this important market. To stay connected with NAI James E Hanson and for updates on the latest transactions and news, please follow NAI Hanson on Facebook (www.facebook.com/NAIHanson), Twitter (@NAI_Hanson), and LinkedIn (www.linkedin.com/company/nai-james-e-hanson).