NAI Hanson Completes Sale of Development Site in West Caldwell, N.J.
West Caldwell, N.J. (April 26, 2017) – NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announces it has brokered the sale of a .8-acre, 34,622-square-foot lot at 820 Bloomfield Avenue in West Caldwell, N.J. NAI James E. Hanson’s Joshua Levering, SIOR, and Gary Sauerborn represented the seller, Lourenco Service Center, LLC, and the buyer, Manzo-Doren Organization of West Caldwell, LLC in this exclusive listing.
“No two deals are alike and it takes an experienced team and professional brokers to navigate these complex and, often, lengthy deals,” said Levering. “Working directly with legal counsel, seller and a team of other professionals, we were able to utilize our experience and market knowledge to ensure all our clients’ needs were addressed. The final deal took numerous years but was mutually beneficial for all parties involved. It allowed ownership to sell the property for an acceptable amount while also providing new ownership an opportunity to redevelop this well-located parcel of land.”
Previously occupied by a Shell gas station, the lot offers a premier location with 200’ of frontage on Passaic and Bloomfield Avenues, two of West Caldwell’s busiest thoroughfares with 23,966 cars passing the property daily. The heavily traveled intersection is zoned for a wide range of uses which made it a highly desirable property. The Manzo-Doren development company of West Caldwell completed the purchase for redevelopment. It is approved for a free-standing retail bank with drive-thru.
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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 400 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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