10B — September 14 - 27, 2012 — New Jersey — Mid Atlantic Real Estate Journal
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N ORTHERN N EW J ERSEY
Also reps the seller in a 36,926 s/f industrial transaction NAI James E. Hanson secures the tenant for a 157,822 s/f industrial site
M
OUNT OLIVE, —NAI James E. Hanson se- cured a tenant for a
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 develop- er for a national discount chain, and plans to convert the 22,000 s/f site to a retail building NAI Hanson represented Ma- chioro USA, Inc. in a 17,790 s/f lease renewal at 1050 Valley BrookAvenue 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. “Inves- tors are interested in capitalizing on market conditions to acquire properties with genuine redevel- opment potential such as the two Paterson sites.” ■ Pape of Marcus & Millichap sells 3,534 s/f retail building BERGENFIELD, NJ — Marcus & Millichap Real Estate Investment Services has announced the sale of 399-403 South Washington Ave., a 3,534 s/f retail property located in Bergenfield. Julienne Pape, an invest- ment specialist in Marcus & Millichap’s New Jersey office, had the listing to market the property on behalf of the seller, a long term owner. This free standing retail building is located at a signal- ized intersection of NewBridge Road at the border of Teaneck. The property is shadowed by Walgreens, Radio Shack and Foster Village Shopping Cen- ter, the building enjoys dual access fromWashington Street and Sylvan Avenue with on- site parking. Purchased, the new inves- tor has the potential for sub- division creating local retail storefront. ■ 399-403 South Washington Ave.
157,822 s/f industrial site at 700 Bartley Chester Road in Mount Olive. The property gained Free Trade Zone approval as part of the tenant’s international clientele. NAI Hanson senior vice presi- dent John Schilp and vice presi- dent Barry Cohorsky represented the landlord, 700 Bartley Chester Road, LLC, in the transaction. “The tenant’s distribution operation called for a centrally located facility that is well-
700 Bartley Chester Road
of 164 Grand Street in Paterson, N.J. The buyer, who also owns property near the location, plans to redevelop the 36,926 s/f site, which features convenient access to Route 80.
maintained, freestanding and easily divisible,” Schilp said. “This site clearly meets all of those needs.” PARAMUS, NJ —NAI James E. Hanson announced that the
firm recently oversaw three in- dustrial deals in Northern New Jersey. The transactions include: NAI Hanson represented the seller, the Stamato family, in the sale
Success is a done deal.
$77,500,000 Tufts University Medical Center PORTFOLIO - 252,087 SF BOSTON, MA LENDER: LIFE COMPANY $11,365,000 350 West 42nd Street RETAIL - 42,774 SF NEW YORK, NY LENDER: REGIONAL BANK
$158,000,000 Multifamily Portfolio 2,366 UNITS NJ, NY, PA, & CT LOCATIONS LENDER: FREDDIE MAC
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