NAI James E. Hanson, a Teterboro-based commercial real estate firm, announced on Tuesday it has negotiated the sale of an industrial building in Randolph.
Located at the intersection of Route 10 and South Salem St., the 18,729-square-foot 246 South Salem St. is within close access to interstates 80 and 287, and routes 46, 53 and 206. The property has been leased by Verizon since 1974 as a regional storage yard and repair shop for its vehicles.
NAI Hanson’s Jonathan Kristofich and John Schilp represented the buyer, Salem Enterprises LLC, and the seller, a private estate administered through JP Morgan Chase’s Estates & Trusts group.
“Transactions like this showcase why it is important to work with a brokerage that not only possesses a wide range of in-house capabilities but possesses the local market knowledge and contacts to service their clients all the way to the closing table,” Kristofich said. “Throughout the entire transaction we drew upon our experience and leveraged our firm’s long-term relationship with the buyer’s lender to quickly solve problems and closed this transaction in the midst of an unprecedented economic and health crisis.”