NAI Hanson negotiates lease for industrial/flex building

NAI James E. Hanson, a commercial real estate firm based in Parsippany and Teterboro, announced Wednesday it has negotiated an industrial/flex lease in Elmwood Park.

Digirad Corp., a solid-state nuclear detector technology company, leased 5,000 square feet at 475 Mola Blvd.

Jeff DeMagistris, Tom Vetter and Tom Ryan of NAI Hanson represented the seller, The Stro Cos., in the deal.

475 Mola is a 45,000-square-foot building with 7,000 square feet of office space, six loading docks, one drive-in and 165 parking spaces. It is within close access to Routes 4, 17 and 46, the Garden State Parkway, and Interstate 80.

Achieve Fitness currently occupies 13,000 square feet at the property.

“Our recently negotiated sale of this building and subsequent lease deal highlights the continued strength of the northern New Jersey industrial market on both the sales and leasing side,” DeMagistris said. “We continue to see robust demand for acquisition opportunities like 475 Mola as well as strong demand from tenants searching for space in buildings just like this one. NAI Hanson’s industrial brokerage team boasts a deep level of experience in working on both industrial sales and leasing that allows us to help our clients find the right deal at the right price to meet their business goals.”