NAI James E. Hanson announced on Tuesday it has negotiated an industrial/flex lease at 500 West Main St. in Wyckoff.
NAI Hanson’s Andrew Somple and Justin Allessio represented the landlord, Ridgewood-based The Stro Companies, in the 16,500-square-foot lease with the tenant, PRE Sales Inc.
The property is a 120,000-square-foot industrial building situated on 13.7 acres and within close access to routes 4 and 208, and Interstate 287. It has 21-foot ceilings as well as ample parking and loading capabilities.
“Due to the lack of industrial product and rising rental rates in the Meadowlands, we are seeing a shift westward as industrial users are getting priced out of this highly favorable market,” Allessio said. “With an eye on this trend, we recognized the value proposition of 500 West Main Street and as a result, were able to help our client secure a quality tenant that would bring this recently acquired asset to full occupancy.”
Formerly located in Moonachie, PRE Sales, a manufacturer and distributor of furniture, event and hospitality equipment, plans to utilize the space to store and distribute furniture.
Financial terms were not disclosed.
