NAI Hanson brokers two-building industrial/flex deal

Real estate services firm NAI James E. Hanson announced recently that it has brokered the sales of two industrial/flex buildings in Saddle Brook.

The properties, a 10,200-square-foot facility at 431 Midland Ave. and a neighboring 24,000-square-foot property at 435 Midland Ave., were both purchased by the same undisclosed buyer. The seller and financial terms were also not disclosed.

“Amidst uncertainty in other investment sectors, commercial real estate, particularly in Bergen County, continues to provide unique flexibility to investors,” said NAI Hanson’s Anthony Cassano, who represented the seller in the 1031 Exchange. “Sellers have been able to attract a premium price for their assets if they feel the time is right for a sale, while buyers looking for stable, long-term income streams are presented with a wide range of opportunities in buildings such as 431 and 435 Midland Ave.”

NAI Hanson’s Kenneth Lundberg and Patrick Lennon represented the buyer in the transaction.