NAI James E. Hanson Negotiates Sale of Professional Building in Clifton, N.J.
Clifton, N.J. (November 2, 2017) – NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announces they have completed the sale of 10,876 square feet of professional space at 1030 Clifton Avenue in Clifton, N.J. NAI Hanson’s Josh Levering, SIOR, and Nicholas DePaolera represented the seller, Realty Investment Associates.
1030 Clifton Avenue is a two-story, 21,734-square-foot office/professional building situated in the heart of Clifton Avenue’s well-known professional corridor. 1030 Clifton Avenue is a highly prominent building with an ideal location and size as well as existing tenants have been long-term Clifton businesses. The buyer purchased the entirety of the second floor on a condominium basis and has plans to renovate, upgrade and occupy the space as a medical office.
“In today’s market, many smaller business owners are recognizing the advantages of building ownership versus leasing. Especially when making significant upgrades and renovations to a space for your own business, you can create a long-term appreciable asset,” said Levering. “We worked closely with the seller to promote and market this building as a value-add opportunity. The buyer was looking to make an investment for themselves and their business. As we have been involved in numerous similar situations for the past few years, this sale further showcases there is still a very strong market for well-located and well-priced office properties.”
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