NAI Hanson Completes Sale of Premier Retail Development Site in Wayne, N.J.
—Former Restaurant Boasts Hamburg Turnpike Location and Exceptional Demographics—
WAYNE, N.J. (June 13, 2013)– NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, today announced the sale of a prime retail development site located on a well-traveled roadway in Wayne, N.J. The 2.25-acre property, which has addresses of 2211, 2227, and 2203 Hamburg Turnpike, changed hands for $1.1 million.
NAI Hanson Sales Associate Nicholas Herrick and Senior Vice President John J. Schilp represented the owner, an out-of-state investor.
The site, which has 500 feet of frontage on the busy road, previously housed a 5,000-square-foot Italian restaurant and single-family home. Both are in need of renovations. Neighboring roadways include routes 23, 202 and 287.
The new owner has plans to redevelop the property for retail use, according to Schilp. The site has Special Business Districts zoning for most office and retail uses. Non-retail uses would include banks, funeral homes, nursing homes, public utility buildings, hospitals, municipal buildings or uses, nurseries and greenhouses and recreational functions.
“The prime Wayne location is a distinguishing factor that fueled this deal,” Schilp stated. “The numbers paint the picture detailing the tremendous potential for this property. Over 25,000 cars pass the site every day, and the average household income within three miles is $123,468.”
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 350offices 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.