NAI Hanson negotiates sale of industrial/flex building

By Emily Bader
Hackensack | Jan 29, 2019 at 7:00 am

NAI James E. Hanson, a Teterboro-based commercial real estate firm, announced Monday it has negotiated the sale of an industrial/flex building in Hackensack.

The 7,800-square-foot property is located at 238 High St.

Anthony Cassano, a vice president at NAI Janson, represented the seller, High Street Hackensack LLC, and the buyer, Vanore Electric, in the deal.

The building, which has 16-foot ceilings, three overhead doors and a double lot, is within close access to Interstate 80 and Route 17.

Varona Electric said it was searching for a larger facility to remain in the area and allow for growth.

“Hackensack continues to be a hot market for industrial assets even though constrained supply is pushing sales prices for quality industrial spaces to record highs,” Cassano said. “Despite high pricing, we’re still seeing strong demand from buyers who recognize the value in investing in the market over the long term, as rental rates in the area have also reached all-time highs and show no signs of slowing.”

Emily Bader | ebader@roi-nj.com | emilybader