NAI Hanson Brokers Two Deals in Heavily Trafficked Union County, N.J. Corridor
697 Morris Turnpike Sold to Shopping Center Developer and
26 Morris Turnpike Leased to Tide Dry Cleaners
Springfield, N.J. (February 17, 2015) – NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, today announced that it has facilitated two transactions along the busy Route 124 commercial corridor in the northwest section of New Jersey’s Union County.
In the first transaction, the NAI Hanson team of Senior Vice President Gary Sauerborn and Sales Associate Jill Gordon represented the seller, Colvin-Friedman Realty, L.L.C., in the sale of 697 Morris Turnpike, a 5,000-square-foot industrial facility in Springfield.
The buyer, Brixmor Operating Partnership LP, was looking to acquire land in the vicinity of numerous shopping centers it owns.
“This property is extremely versatile and centrally-located in an economically-vibrant area,” Sauerborn said. “These were a points of emphasis as we marketed this investment asset.”
In the second transaction, Gordon teamed up with NAI Hanson Senior Vice President Thomas W. Ryan to represent landlord, Paul Schmidt, in the leasing of 26 Morris, a 2,763-square-foot building, in Summit.
Bank of America had previously occupied the building. The new tenant, Tide Dry Cleaners, has 12 locations throughout the country. The company will be opening its first New Jersey location at the Summit site and was impressed by the fact that the building has a drive-through and a location less than a mile from two large supermarkets – along a high-traffic thoroughfare – in a densely populated, upscale area. More than 77,000 people live within a three-mile radius and the average household income is higher than $160,000 per year.
“This site is perfect for a dry cleaner due to its convenient location, physical features and the excellent demographics in the immediate area,” Gordon said. “We are pleased that we had the opportunity to use our expertise in identifying and signing the right type of tenant for this fantastic property.”
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 375 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.