NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces the sale of a 152,000-square-foot industrial building at 55 East 6th Street in Paterson, N.J. NAI James E. Hanson’s Russell J. Verducci, SIOR, and Eric Demmers along with Hanna Commercial Real Estate represented the seller, Kirker Enterprises, Inc., in the transaction with buyer, 55 East 6, LLC.
Located on three acres, 55 East 6th Street is a 152,000-square-foot industrial building featuring four drive-ins, 12 loading docks and 14’-22’ ceiling heights throughout. The property is located nearby Interstate 80 and Route 208 as well as the Paterson train station.
The seller hoped to capitalize on northern New Jersey’s strong commercial real estate market through a sale leaseback transaction. Leveraging their extensive work in the market and deep local contacts, NAI James E. Hanson and Hanna Commercial Real Estate created a marketing plan to meet the seller’s request and secured a buyer who intends to use the property as an investment asset.
“Industrial properties have long been a lucrative asset within an investment portfolio,” said Verducci. “In the current market, we’re continuing to see buyers aggressively pursue properties within the northern New Jersey’s industrial market to capture the continued price-per-square-foot increases seen over the past several years.”
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