NAI Hanson Completes Three Industrial Deals in Northern New Jersey
NAI HANSON COMPLETES THREE INDUSTRIAL DEALS IN NORTHERN NEW JERSEY
Sales Associate Louis Tapia Oversees Two Transactions in Paterson and One in Lyndhurst
NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, today announced that the firm recently oversaw three industrial deals in Northern New Jersey.
The transactions include:
NAI Hanson represented the seller, the Stamato family, in the sale of 164 Grand Street in Paterson, N.J. The buyer, who also owns property near the location, plans to redevelop the 36,926-square-foot site, which features convenient access to Route 80.
NAI Hanson represented the sellers of a redevelopment site at 233-247 Van Houten Street in Paterson, N.J. The owners, Eastern Capital, LLC, inherited the property through foreclosure. The buyer is a preferred developer for a national discount chain, and plans to convert the 22,000-square-foot site to a retail building
NAI Hanson represented Machioro USA, Inc. in a 17,790-square-foot lease renewal at 1050 Valley Brook Avenue in Lyndhurst, N.J. The company manufactures and distributes pet supplies.
NAI Hanson Sales Associate Louis Tapia completed all of the transactions, working with Vice Presidents Thomas A. Vetter and Jeffrey DeMagistris on the 164 Grand Street deal.
“These deals are indicative of the current industrial market in New Jersey,” said Tapia. “Investors are interested in capitalizing on market conditions to acquire properties with genuine redevelopment potential such as the two Paterson sites.”
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.