NAI James E. Hanson, a Teterboro-based commercial real estate firm, announced on Monday it has negotiated the sale and leaseback of an 8.25-acre last-mile site in Elizabeth.
NAI Hanson’s Scott Perkins, Christopher Todd, Russell Verducci and Eric Demmers represented the buyer, CenterPoint Properties, while Transwestern‘s Marc Imrem, J.D. DeRosa and Colby Moore represented the seller, Coach USA.
The site, located at 349-369 First St., is within close proximity to the New Jersey Turnpike and several local highways as well as the Newark Liberty International Airport. Centerpoint said the acquisition was an ideal fit for its growing industrial portfolio, which spans 28 properties and more than 7 million square feet.
“Our ability to acquire sites of this quality on an off-market basis is highly dependent upon strong brokerage relationships. The team at NAI Hanson continues to provide great value to CenterPoint in this extremely competitive marketplace. This transaction was further complicated by the ongoing COVID pandemic, however the team at NAI was able to assist CenterPoint during the due diligence process. We look forward to working together with NAI Hanson on more projects in the future,” Evan Lippow, vice president of CenterPoint Properties, said.