Real Estate Journal — New Jersey — May 12 - 25, 2017 — 15B


M id A tlantic

N ew J ersey

Somple, SIOR, and Walters, SIOR, of NAI James E. Hanson negotiate transaction The Hampshire Companies sells 82,524 s/f Northvale industrial/flex building


strong markets,” added John Goldsmith , portfolio manager at The Hampshire Companies. “Through a timely disposition of this asset, we were able to maximize our investment in this property and execute our overall strategy while the new owner was able to acquire a highly-desirable industrial building at a price significant- ly below replacement cost.” Andrew Somple, SIOR, and Michael Wal ters , SIOR, of NAI James E. Hanson represented The Hampshire Companies in the transaction. n

of property, due to its supreme location and adaptability for a wide range of uses. The deal provided Hampshire with an opportunity to take advantage of the tightening industrial market and create significant value for our investors from an existing asset while enabling the new buyer to secure a cash- flow from the existing lease while utilizing the remaining available leasable space for their business.” “The Hampshire investment strategy relies on opportune and strategic dispositions of well-positioned assets in

orthvale, NJ — The Hampshire Com- panies, a full service,

private real estate invest- ment firm, announced the sale of a 82,524 s/f industrial/ flex building in Northvale, to Trasco Realty, LLC. The multi-tenant building, located at 140 Legrand Ave., is cur- rently partially leased by Abon Pharmaceuticals. Trasco will occupy the remaining avail- able space. The free-standing industrial/ flex building boasts 72,524 s/f of industrial space with 10,000 s/f of office space on 5.07 acres. The property’s six loading docks and ideal location in the heart of northeast Bergen County, with easy access to the Tappan Zee and George Wash- ington Bridges as well as all northeast corridor highways, makes this a highly suitable and adaptable property for a wide range of possible uses. “It is no secret that the limited supply of well-located Bergen County industrial properties coupled with high demand has led to substan- tially higher asking prices for these types of spaces,” said Igor Derbaremdiker , di- rector of dispositions for The Hampshire Companies. “140 Legrand is precisely that kind NGKF inks 64,000 s/f lease extension Bedminster, NJ — New- mark Grubb Knight Frank (NGKF) completed a 64,000 s/f, long-term lease extension and expansion for Zelis Healthcare at 2 Crossroads Dr. in Bedmin- ster. NGKF managing director Larry Martin represented the tenant in the transaction. Zelis is slated to take over the ad- ditional space by mid-summer of 2017. Zelis moved into the two- story building ten years ago, initially occupying 14,000 s/f. The new lease provides Zelis full use of the property as it continues its growth initiatives in the healthcare information technology space. The property serves as the official headquar- ters of Zelis, which has addi- tional campuses in Atlanta and Clearwater. “When the opportunity was presented to occupy the remain- ing space at 2 Crossroads Drive, Zelis took advantage of it to create a single tenant corporate headquarters location,” said Martin. n

140 Legrand Ave.


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