Real Estate Weekly
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Tenant makes rent to buy move

NAI James E. Hanson announced the sale of a 219,304 s/f industrial building located at 615 Route 303 in Blauvlet, NY.

515 Route 303
515 Route 303

NAI Hanson’s team of Scott Perkins, Andrew Somple, and Christopher Todd represented the owner, Direct Invest, LLC in the sale to the current tenant, Advanced Distributions Systems (ADS).

With ADS considering other options, NAI Hanson was hired by Direct Invest to find another occupant.

“As soon as the building hit the market, we had 20-plus showings within the first month,” said Somple. “These showings included both users and investors.

“We know we had an interesting opportunity to promote, but were pleasantly surprised as to the high level of attention this building received.”

The building offers 20 ft. ceilings, 12 loading docks with one drive-in, 200 parking spaces, and 14,311 s/f of office space.

Prior to the acquisition, ADS had been leasing the space for one of its six facilities located throughout northern New Jersey and southern Rockland County New York.

The acquisition allows ADS to continue to serve its customers’ needs from a strategic location that provides easy access to local highways and transit routes while providing a full suite of distribution services to a wide array of industries including cosmetics, health and beauty, and fragrance.

“Having leased the building for several years, ADS knew the unique advantages it provided including a superior location and a large footprint that meets all of their distribution needs,” said Perkins.

“The building’s size was a major selling point since there is a lack of supply for larger industrial buildings in the marketplace.”

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