NAI James E. Hanson Negotiates Sale of 152,000 Square Foot Industrial Building in Paterson, NJ

NAI James E. Hanson, New Jersey’s Largest Independent Full-Service Commercial Real Estate Company, Announces the Sale of a 152,000 Square Foot Industrial Building at 55 East 6e Street in Paterson, NJ NAI James E. Hanson’s Russell J. Verducci, SIOR, and Eric Demmers with Hanna Commercial Real Estate represented the seller, Kirker Enterprises, Inc., in the transaction with the buyer, 55 East 6, LLC.

Located on three acres, 55 East 6e Street is a 152,000 square foot industrial building featuring four drive-ins, 12 loading docks and ceiling heights of 14 to 22 feet. The property is located near Interstate 80 and Route 208 as well as the Paterson train station.

The seller was hoping to capitalize on the strong northern New Jersey commercial real estate market through a sale-leaseback transaction. Leveraging their extensive market work and extensive local contacts, NAI James E. Hanson and Hanna Commercial Real Estate created a marketing plan to meet seller demand and found a buyer who intended to to use property as an investment asset.

“Industrial properties have long been a lucrative asset in an investment portfolio,” Verducci said. “In today’s market, we continue to see buyers aggressively seeking properties in the northern New Jersey industrial market to take advantage of the continued price per square foot increases seen over the past few years.”

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