NAI Hanson Negotiates Sale of Two-Acre Redevelopment Site in Fairfield, N.J.
Fairfield, N.J. (April 23, 2019) – NAI James E. Hanson, a leading New Jersey based full-service independent commercial real estate firm, announces it has negotiated the sale of a two-acre redevelopment site at 212 Passaic Avenue in Fairfield, N.J. NAI James E. Hanson’s Dominic Fittizzi represented the seller, Passaic Ave Realty LLC, in the transaction.
Situated directly across from Essex County Airport, 212 Passaic Avenue is an ideally located two-acre redevelopment site which is zoned for retail. With proximity to Route 46, the site boasts an average daily traffic county of 23,372 vehicles. Additionally, the nearby Wayne/Route 23 Transit Center and the Mountain View train both offer access to the Montclair-Boonton NJ Transit line with direct service to New York City. Leveraging the high-traffic location as well as the property’s size and adaptability, the buyer plans to use the site to build a medical facility.
“When marketing this property, we recognized early on that this parcel’s size and prime location would appeal to a range of prospective buyers,” said Fittizzi. “With this in mind, we were able to leverage our experience and market knowledge to work with the seller and attract a qualified buyer that not only saw a long-term investment value in the property but would also make a significant contribution to the local community with the addition of a medical facility.”
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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 Teterboro office at 201-488-5800 or visit www.naihanson.com.