NAI Hanson negotiates building sale in Hackensack

By Emily Bader
Hackensack | Oct 17, 2019 at 12:48 pm

NAI James E. Hanson has negotiated the sale of a 2,331-square-foot office building in Hackensack.

The Teterboro-based commercial real estate firm said the building at 300 S. Summit Ave. is a single-story office/flex property situated on a 6,425-square-foot lot with 10 parking spots.

NAI Hanson’s Darren Lizzack and Randy Horning represented the seller, Jose Alvarez. Allegra House of Prominent Properties represented the buyer, All Souls Evangelical Church.

The property is within close access to Route 17 as well as Interstate 80.

All Souls, NAI Hanson said, was looking for a centrally located spot for its congregation and chose 300 S. Summit due to its accessibility and adaptability.

“Having executed a number of transactions involving houses of worship over the years, we are aware of the unique complexities that often accompany these transactions including the need to secure use variances,” Horning said. “This experience provides us with a depth of knowledge in navigating this process and enables us to effectively communicate with our clients to ensure a smooth transaction.”

Financial terms of the deal were not disclosed.

“During the course of this assignment, we went from seeing very few competing properties in the area to suddenly having several. Although that can make securing above market value quite difficult, we were able to leverage our market knowledge to shift our marketing in line with the changing market conditions and negotiate a deal that exceeded our client’s expectations,” Lizzack said.

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