NAI Hanson Represents Splash Park, LLC in Sale of 10-Acre Sports and Recreation Complex in Waldwick, N.J
WALDWICK, N.J. (Sept. 30, 2013) – NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, today announced that it represented Splash Park, LLC in the sale of a 10-acre complex located at 140 Hopper Avenue in Waldwick, N.J.
Acquired by HFZ Partners, the complex features four buildings and 145,465 square feet of rentable space occupied by 13 well-known tenants that specialize mostly in athletic training and sport equipment sales.
Vice President Hal Messer and Associate Vice President Dominic Fittizzi led the NAI Hanson team that completed the transaction.
“The buyer made an excellent investment with the purchase of this property, essentially acquiring a stream of income,” Fittizzi said. “This complex has a 100 percent occupancy rate and all tenants have long-term leases, meaning there is minimal operational risk.”
Key tenants include Unlimited Sports LLC, operator of Superdome Sports, which caters to local school sports teams, clinics and leagues on a year-round basis; The Learning Experience, which provides daycare/preschool to children six weeks to five years of age; Greenhouse Golf, which provides a destination location for numerous indoor golf activities; Hoop Heaven, which offers state-of-the-art, air conditioned basketball facilities; and Excel Orthopedic Rehabilitation, which provides physical therapies to individuals following joint replacement, arthroscopic and reconstructive surgeries, in addition to patients with work, sports and spinal-related injuries.
According to Fittizzi, the complex’s location in northern Bergen County was especially attractive to the buyer.
“This is an affluent area that produces a high number of successful amateur and professional athletes, making this deal low-risk and high-reward,” he said. “Furthermore, the new owner now possesses 10 acres of prime real estate in Bergen County that can be repurposed in 10 or 20 years for any number of things.”
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.