B — April 12 - 25, 2013 — New Jersey — Mid Atlantic Real Estate Journal
www.marejournal.com
N ew J ersey
ACKENSACK, NJ — NAI James E. Hanson has recently H In a 1031 exchange, Diwan 168, Inc. acquired the prop. NAI Hanson’s Fittizzi brokers $499k sale in Hackensack
completed the sale of a free- standing retail building at 269 Main Street in Hackensack. In a 1031 exchange, Diwan 168, Inc. acquired the 5,000 s/f property. NAI Hanson as- sociate vice president Dominic Fittizzi represented the seller, Horowitz, M&L Jacoby Trust- ees. It had been listed for sale at $499,000. “The buyer was extremely attracted to the property’s cov- etedMain Street location in the heart of the Hackensack retail corridor,” Fittizzi said. “This
269 Main Street in Hackensack
Bernards Township, NJ — Newmark Grubb Knight Frank (NGKF) has completed a lease renewal for Hitachi Power Systems America, Ltd. (HPSA), a wholly owned subsidiary of Hitachi America, Ltd., that will enable the company to remain in its 50,000 s/f of offices at Liberty Corner Executive Center. NGKF vice chairman Mer- rill Roth represented HPSA, which has occupied the space at 645 Martinsville Rd., since 2005. On renewing, Roth said, “HPSA is committed to its presence here and seized the opportunity to assure its place in the property over the long term.” Representing the landlord, Murray Construction Co. Inc. , were Brian Fitzsimons , Murray Construction’s senior vice president and director of real estate; Douglas Fried- rich , its president and chief operating officer; and Michael Nachtome , senior vice presi- dent and general counsel. Liberty Corner Executive Center, a 86,000 s/f class A office building. Murray Con- struction recently completed a major capital improvement program that included a new central chiller, new roof and facade work. “HPSA investigated all the alternatives in this market and found that ‘there’s no place like home’ when it came to pricing, future flexibility for expansion and contraction, and overall work environ- ment,” said Roth. n NGKF i n k s 50,000 s/f lease renewal site is well positioned within the downtown area.” n
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