2B — February 19 - March 12, 2021 — New Jersey — M id A tlantic Real Estate Journal



N ew J ersey


Walters & Silverstein re. Robert Michael Associates NAI James E. Hanson secures buyer for 156,627 s/f ind. bldg.

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AYNE, NJ — NAI James E. Hanson has negotiated the

sale of a 156,627 s/f indus- trial building at 30 Corporate Dr. in Wayne. NAI James E. Hanson’s Michael Walters, SIOR , and Cameron Silver- stein represented the seller, Robert Michael Associates, LLC , in the transaction with Forsgate Industrial Part- ners as the buyer. Constructed in 1984, 30 Corporate Drive’s strategic location just miles from I-80 and Rtes. 23 and 46, the build- ing’s combination of adaptabil- ity, structural integrity and accessibility made it a rare institutional-grade acquisition opportunity in the current in- dustrial market. Recognizing the unique value proposition of the property, the building’s ownership greenlighted Team Walters and Silverstein to facilitate a sale of the build- ing only under the condition that it was sold by year-end 2020. In addition to the tight timeframe, the building’s own- ership had been located over 1,200 miles away in Naples, FL since the COVID-19 pandemic began and was unable to travel to New Jersey to oversee the sale. The ownership group entrusted Team Walters and Silverstein to serve as their

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30 Corporate Dr. in Wayne

on-the-ground presence to fa- cilitate the speedy sale of the building. “While the northern New Jersey industrial sales market continues to see tremendous demand coupled with a lim- ited supply, challenges still exist with any transaction,” said Walters. “For sellers, leveraging the local market knowledge, relationships, and transactional management experience of professional com- mercial real estate brokers like those on our team at NAI Han- son can make all the difference in realizing the full market potential of unique assets like 30 Corporate Drive. This deal exemplifies the advantages of working with a local broker as we were able to facilitate a seamless sale on behalf of our

client while helping the buyer grow its portfolio of class A industrial assets.” MAREJ


New Jersey

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