Press Release brought to you by NAI James E. Hanson

NAI Hanson Awarded Exclusive Galaxy Portfolio Assignment

09/27/2012


FOR IMMEDIATE RELEASE

 


NAI HANSON AWARDED EXCLUSIVE GALAXY PORTFOLIO ASSIGNMENT

 

Guttenberg, N.J. Retail/Office Site is Offered for Sale or Lease


NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, today announced that the firm has been retained as the exclusive sales and leasing agent for a 48,000 square feet office/retail portfolio, The Galaxy Mall, located in Guttenberg, N.J.

NAI Hanson Vice President Ron Fotiu and Sales Associate Louis Tapia are handing the assignment.

Developed by Prudential Insurance Company and built in the 1970s on Kennedy Boulevard East, the complex consists of three unique octagonal skyscrapers with 1,075 residential condo units. A two-level, 79,848-square-foot interior retail/office condominium mall and 11 levels of covered parking accompany the towers. 

Thirteen retail/office commercial condominium units totaling 48,000 square feet and ranging from 937 to 11,593 square feet are for sale, including 7,000 square feet of indoor recreation space that was previously used as a movie theater. Approximately 1,500 to 20,000 square feet of office space is also available. 

There are three vacancies that account for approximately 36 percent of the total portfolio. Fourteen tenants occupy 23,000 square feet on short-term leases or month-to-month tenancies and 7,000 square feet is leased through 2019 to a restaurant with a stable rental history.

The numerous building amenities include exterior shaded patio, elevator access, indoor/outdoor/kiddie pools, sauna, full gym and community rooms. There is a large common area for patrons, onsite management and covered parking deck with security in addition to doormen and a 24-hour concierge. 

"This is a premier portfolio with spectacular amenities and magnificent views," said Fotiu. "There are flexible leasing or purchasing opportunities depending upon the individual tenant. It's a great long-term investment opportunity in a highly populated Hudson County community."

About NAI James E. Hanson
Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise.

NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with over 350 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company's Hackensack office at 201-488-5800 or visit www.naihanson.com.

 

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09/27/2012 - 13:35

Source

NAI James E. Hanson

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