8B — March 13 - 26, 2020—Northern New Jersey — M id A tlantic Real Estate Journal
www.marej.com
N orthern NJ
Cenicola & Schilp represent Wells Fargo in sale of a 0.25-acre parcel in Hackensack NAI James E. Hanson helps international logistics company find home in East Rutherford E
clients with flexibility and real-time visibility and control throughout the process. With their lease of 343 Murray Hill Parkway, Axis Global Logistics will be able to service their growing client base in the New York City metropolitan market from one of the most accessible industrial markets in New Jersey. Professionally managed by NAI James E. Hanson’s Prop- erty Management Group, 343 Murray Hill Parkway is a 53,361 s/f single-story indus- trial building located just next to door to Meadowlands Sports
Complex in East Rutherford. Along with its strategic loca- tion in the heart of the Mead- owlands, the building also boasts tremendous access to Rtes. 3 and 17 as well as the Garden State Pkwy. In a second Northern NJ transaction, NAI James E. Hanson has facilitated the sale of a 0.25-acre parcel at 17 Salem St. in Hackensack. NAI James E. Hanson’s Joan Cenicola and John Schilp represented the seller, Wells Fargo , in the transaction. Over the past decade, cre- ative developers and vision- ary municipal leaders have sought to reinvent the city of Hackensack as a dynamic, transit-oriented live-work- play destination. Currently, there are 24 mixed-use proj- ects under construction which, upon completion, will bring 4,000 residential units and 65,000 s/f of brand-new retail space to the city over the next several years. With a loca- tion nearby several of these projects, 17 Salem St. boasts tremendous flexibility in the heart of one of New Jersey’s most exciting cities. “The key to successfully mar- keting and negotiating the sale of a property like 17 Salem St. relies heavily upon truly understanding the asset’s best possible usage,” said Cenicola. “In an evolving and in-demand location such as Hackensack, our local knowledge is vital as it provides us with an unmatched understanding of all factors and conditions at play, enabling us to facilitate a sale that repre- sents the highest possible value for this kind of asset.” Cenicola’s ability to market and sell properties has helped her to forge a strong work- ing relationship with Wells Fargo, one of the nation’s largest banks, as they seek to dispose of assets that no lon- ger align with their long-term real estate strategy. Over the last five years, Cenicola has represented Wells Fargo in 28 transactions valued at $38 million during that span. Gary Lippert, CLS, CPA, vice president, Wells Fargo affirmed the bank’s long rela- tionship with NAI Hanson and Cenicola in particular, stating: “No one expected the quantity of excellent opportunities you have continually brought to the table for us, and you have certainly earned the respect of our organization.”
AST RUTHERFORD, NJ — NAI James E. Hanson has negotiated a full building lease for 53,361 s/f of industrial space at 343 Murray Hill Parkway in East Rutherford. NAI James E. Hanson’s Kenneth Lundberg, SIOR, Patrick Lennon, Lo- renzo Lambiase and Steve Pastor represented the land- lord, 343 Murray Hill Parkway, Inc., in the transaction and Steve Elman of Cushman & Wakefield represented the tenant, Axis Global. Axis Global Logistics pro- vides clients across a broad ar-
343 Murray Hill Parkway
ray of industries and business sectors with deep expertise in supply chain management and the highest level of qual- ity assurance. Axis’ industry-
specific supply chain solutions are built on the knowledge of a powerful leadership team as well as industry-leading web- based technology that provides
VI S ION
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