NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has negotiated the sale of a 12,000-square-foot industrial/flex property at 20 Industrial Ave in Upper Saddle River, N.J. NAI James E. Hanson’s Justin Allessio represented the buyer, RT Direct Distributors, and the seller, 20 Industrial Ave, LLC, in the transaction.
20 Industrial Avenue is a fully air-conditioned two-story, 12,000-square-foot industrial/flex building with 6,000 square feet of office space, two drive-ins, one ramp tailgate, 800-amp electrical service, and 25 parking spots. Located directly off Route 17, the property provides easy access to Routes 87, 208, 287 and the New Jersey Turnpike as well as the George Washington Bridge.
Recognizing NAI James E. Hanson’s success in closing industrial transactions across the northern N.J. market, the seller tapped the firm as the exclusive brokerage firm for the property with the goal of benefitting on the demand for well-located industrial/flex properties. The buyer, who needed a high-quality property to facilitate their relocation from Chestnut Ridge, N.Y., was interested in the property’s location and flexible usage. The buyer plans to rent the second floor and use the first floor as their new headquarters location.
“Industrial/flex properties are always in demand as a result of the adaptability they provide to property owners,” said Allessio. “This existing demand coupled with the rising urgency showed by prospective buyers in recent years puts the owners of these properties in a highly advantageous situation. Once an owner expresses a desire to sell, we are happy to provide our clients with the solutions they need to act quickly and take advantage of the current market.”