M ID A TLANTIC Real Estate Journal — Northern NJ — December 24, 2021 - January 20, 2022 — 5B N ORTHERN NJ


Deal includes 730 Madison Ave. a 59,427 s/f industrial building NAI Hanson’s Lizzack and Horning negotiate sale of ove r 64,000 s/f of industrial space in Paterson


serves as the exclusive leas- ing team for 13 Watchung Ave. and 17 Watchung Ave., a fully leased adjoining build- ing. The two buildings feature easy access to Interstates 78, 280, and 287 in addition to Route 24 and are highly visible from the intersection of Watchung Avenue and River Road. In addition, the property includes a private parking lot available to ten- ants and their guests. NAI James E. Hanson recently brought 17 Watchung Ave. to full occupancy. With the lease to Galaxy Dairy Products, 13

Watching Avenue is now 100 percent leased and highlights the consistent demand for quality office space in the current market. Prev i ous l y l ocat ed in Ramsey, N.J. for over forty years, Galaxy Dairy Products, a cheese wholesaler and im- porter, was in search of office space closer to the home of the firm’s second generation of family leadership. The com- pany’s leadership recognized that 13 Watchung Avenue’s accessibility and location were well-suited to house the company’s operations. MAREJ

ATERSON, NJ — NAI James E. Hanson has negotiated the sale of

64,377 s/f of i n d u s t r i a l space at 730 Madison Ave. in Paterson. NAI James E. Hanson’s T e am L i z - zack-Horning led by Dar- r e n L i z - zack, MSRE , and Randy H o r n i n g , MSRE , rep- resented the sel ler , Pat - erson Card and Pa p e r Company and

Darren Lizzack

730 Madison Ave

Dairy Products, Inc. NAI James E. Hanson

landlord, James Prisco Jr. , in the transaction with Galaxy

Randy Horning

JBJB Realty, LLC, in the trans- action with 109 Isabella, LLC, and 730 Madison YB, LLC. The deal includes 730 Madison Ave. a 59,427 s/f industrial building located in Paterson’s Opportunity and Urban Enterprise Zones featuring quick access to Rtes. 46, 80, and the Garden State Pkwy. In addition to its highly accessible location, this property features abun- dant parking with adequate space for an additional lot along with six drive-ins and four loading docks. Also in- cluded in the sale is a 4,950 s/f building across the street. 730MadisonAve. had served as the home of the seller’s fam- ily business, Paterson Paper, since 1914. However, as the seller was hoping to retire and sell the company, he retained Lizzack and Horning to secure a buyer for the two proper- ties. 109 Isabella, LLC, and 730 Madison YB, LLC plan to repurpose 19,377 s/f of 730 Madison Avenue to house its commercial painting business while making the remaining 45,000 s/favailable for lease. “We are pleased to have secured a buyer on behalf of our client as he prepares for retirement,” said Horn- ing. The sale of this historic building poses a tremendous opportunity for its new own- ers and reflects the strength of Northern New Jersey’s industrial market.” NAI James E. Hanson has negotiated a lease for 1,100 s/f of office space at 13 Watc- hung Ave. in Chatham. NAI James E Hanson’s Andrew Kirshenbaum and Tom Ryan both represented the


Belmar & Bradley Beach, NJ 127 Unit Portfolio Daniel Lanni ext 248

Elizabeth, NJ 19 Units + 1 Commercial Joni Sweetwood ext 273

Paterson, NJ 14 Units + 2 Superintendent Units Robert Squires ext 287

Pequannock, NJ 14 Units + 8,050 SF Retail Daniel Lanni ext 248

Hamilton Township, NJ 15,990± Retail/Medical Strip Mall Alan Storozum ext 236

Holmdel, NJ 12± Acres for Redevelopment Matt Weilheimer ext 253

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