M id A tlantic Real Estate Journal — New Jersey — August 19 - September 15, 2022 — 3B N ew J ersey
www.marej.com
Russell Verducci and Eric Demmers rep. Kirker Enterprises, Inc., in transaction NAI James E. Hanson negotiates sale of 152,000 s/f industrial building in Paterson, NJ P Tpke. provides easy access to amenities such as local eater- ies and shopping.
“The high level of competi- tion and the scarcity of useful and beneficial locations in the industrial market right now has increasingly forced industrial buyers to priori- tize off-market deals,” said Verducci. “This can present an unanticipated opportunity for a property owner which is both exciting and nerve- wracking. However, our ex- tensive market knowledge and experience can help sell- ers seamlessly navigate these situations to ensure the deal is to be completed efficiently and profitably.” MAREJ
ATERSON, NJ — NAI James E. Han- son announced the sale of a 152,000 s/f industrial building at 55 East 6th St. in Pat- erson. NAI James E. Hans on ’ s Ru s s e l l Verducci, SIOR , and Eric Dem- mers along with Hanna Commercial Real Estate represented the seller, Kirker En- terprises, Inc., in the transaction with buyer, 55 East 6, LLC. Located on three acres, 55 East 6th St. is a 152,000 s/f industrial building featur- ing four drive-ins, 12 load- ing docks and 14’-22’ ceiling heights throughout. The prop- erty is located nearby Inter- state 80 and Rte. 208 as well as the Paterson train station. The seller hoped to capital- ize on northern New Jersey’s strong commercial real estate market through a sale lease- back transaction. Leveraging their extensive work in the market and deep local con- tacts, NAI James E. Hanson and Hanna Commercial Real Estate created a marketing plan to meet the seller’s re- quest and secured a buyer who intends to use the prop- erty as an investment asset. “Industrial properties have long been a lucrative asset within an investment portfo- lio,” said Verducci. “In the cur- rent market, we’re continuing to see buyers aggressively pursue properties within the northern New Jersey’s indus- trial market to capture the continued price-per-square- foot increases seen over the past several years.” In Mahwah, Verducci, SIOR and Demmers represented the seller, Hendon Realty Associates, LLC in the sale of a 54,000 s/f industrial building at 46 Industrial Ave. Located on six acres, 46 Industrial Ave. is a 54,000 s/f industrial building equipped with solar panels, 16’ ceilings, 30’x20’ column spacing and close proximity to Rtes. 17, 87 and 287. The nearby Franklin Russell Verducci Eric Demmers
Hendon Realty Associates recognized that the current industrial market provides owners with a unique ability to capture premium values from their assets across north- ern New Jersey. Leveraging NAI James E. Hanson’s local contacts, the owner was able to identify a buyer interested in acquiring the well-located property in an off-market deal. The new buyer plans to use the building as an e- commerce distribution hub.
55 East 6th St.
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