NAI Hanson’s DeMagistris, Vetter, and Ryan Negotiate Lease at Elmwood Park Industrial/Flex Building
Elmwood Park, N.J. (January 16, 2019) – NAI James E. Hanson announces it has negotiated a 5,000-square-foot industrial/flex lease at 475 Mola Boulevard in Elmwood Park, N.J. NAI James E. Hanson’s Jeff DeMagistris, SIOR, Tom Vetter, SIOR, and Tom Ryan represented the owner, The Stro Cos., in the NAI James E. Hanson exclusive listing.
475 Mola Boulevard is a 45,000-square-foot industrial/flex building with 7,000 square feet of office space, six loading docks, one drive-in and 165 parking spaces. 475 Mola Boulevard features ideal accessibility minutes from Routes 4,17 and 46 as well as the Garden State Parkway and Interstate 80, making it suitable for a wide range of prospective tenants. Achieve 24 Fitness currently operates 13,000 square feet of the building as a fitness center. NAI Hanson negotiated the sale of the building to The Stro Cos. earlier this year. The Stro Cos. acquired the building with the goal of subdividing the space and bringing it to full occupancy.
Digirad Corporation, a pioneer in the field of solid-state nuclear detector technology for the healthcare industry, has been recognized by Insights Success Magazine as one of the Top-10 Fastest Growing Healthcare Solution Provider Companies. Their lease at 475 Mola Boulevard will enable the company to better service their clients throughout northern New Jersey.
“Our recently negotiated sale of this building and subsequent lease deal highlights the continued strength of the northern New Jersey industrial market on both the sales and leasing side,” said DeMagistris. “We continue to see robust demand for acquisition opportunities like 475 Mola as well as strong demand from tenants searching for space in buildings just like this one. NAI Hanson’s industrial brokerage team boasts a deep level of experience in working on both industrial sales and leasing that allows us to help our clients find the right deal at the right price to meet their business goals.”
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