A South Hackensack industrial building has sold to a lighting fixture business, according to real estate firm NAI James E. Hanson, which negotiated the deal.
NAI Hanson said City Knickerbocker, a family-owned company that provides lighting fixtures for the entertainment industry, as well as business and residential customers, acquired the property at 143 Leuning St. from Schmidt Realty Co. LLC for an undisclosed amount. The business is moving from New York City, NAI Hanson said, as the firm helped it find a long-term home with similar accessibility at a lower cost.
NAI Hanson’s Russell Verducci and Eric Demmers represented the buyer in the transaction.
“As prices continue to rise in New York City, we are observing a notable uptick in the number of New York City-based companies looking to New Jersey for a new home,” Verducci said in a prepared statement. “New Jersey’s ample accessibility and comparatively lower pricing provides these companies with the ideal mixture of affordability and efficiency they require to successfully run their businesses.”