NAI Hanson: Lease brings industrial/flex building in Elmwood Park to max capacity

By Emily Bader
Elmwood Park | Aug 28, 2019 at 3:00 am

NAI James E. Hanson announced Tuesday it has negotiated a lease with Best Value Kosher Foods, a dairy wholesaler, in Elmwood Park.

The 27,600-square-foot lease is located at 475 Mola Blvd.

Jeff DeMagistris, Tom Vetter and Tom Ryan of NAI Hanson represented both the owner, The Stros Cos., and the tenant in the deal.

The property is a 45,000-square-foot industrial/flex building with 7,000 square feet of office space, six loading docks, one drive-in and 165 parking spots. It is within close access to routes 4, 17 and 46 as well as the Garden State Parkway and Interstate 80.

The lease with Best Value Kosher Foods brings the asset to full capacity, NAI Hanson said. Other tenants at the property include Achieve 24 Fitness, which occupies 13,000 square feet, and Digirad Corp., which occupies 5,000 square feet.

“Our experience in this hyper-competitive industrial market is a tremendous asset as it provides us with the knowledge and contacts to find suitable tenants for our clients’ buildings,” DeMagistris said. “We like to see ourselves as not just brokers but partners in our clients’ successful execution of their investment strategies. The successful acquisition and lease-up of 475 Mola Boulevard stand as a powerful testament to that focus in action.”

Financial terms were not disclosed.

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