NAI Hanson, Van Houten to rep Paterson complex

By Eric Strauss
Paterson | Oct 16, 2019 at 10:00 am

Two real estate firms have been named the exclusive sales agents for a 108,000-square-foot industrial/flex complex in Paterson, they announced recently.

NAI James E. Hanson and Van Houten Corporate Realty will handle sales at 468 Totowa Ave., with NAI Hanson’s Michael G. Walters and Cameron Silverstein and Van Houten’s Richard Van Houten given the assignment.

The four-story property stands at the highest point in Paterson, the firms said in a news release, and includes four, 20,000-square-foot floors and a 19,000-square-foot attached building on 1.9 acres.

The property is located in an area designated as an Opportunity Zone, an Urban Enterprise Zone and a Garden State Growth Zone, the firms noted.

“With numerous economic incentives and several major mixed-use and redevelopment projects currently underway, the neighborhood around 468 Totawa Ave. is well-positioned for a renaissance,” Walters said in a prepared statement. “This unique property offers a clean palette and presents a tremendous investment opportunity for the right buyer to create a valuable real estate investment in the heart of Paterson’s resurgence.”

Eric Strauss | estrauss@roi-nj.com | acerimrat