A consumer electronics sales company has renewed its lease in Westwood, according to real estate firm NAI James E. Hanson.
Laguna 2 LLC, which sells new and refurbished consumer electronics through a variety of channels, signed a long-term renewal for the 11,360-square-foot industrial building at 12 Sullivan St., the firm said.
NAI Hanson’s Andrew Somple and John Schilp represented both the landlord, 12 Sullivan Street LLC, and the tenant in the transaction.
“Demand for industrial properties of all sizes remains high, especially for those located in the Bergen County market due to its strategic location and tremendous accessibility to the Greater New York City area,” Somple said in a prepared statement. “We were pleased to work collaboratively with both the landlord and tenant to negotiate a deal that was mutually beneficial for both parties and allowed the tenant to continue to operate seamlessly out of this space.”
The space serves as Laguna’s metro New York distribution center, from which it drop-ships thousands of packages per day.
The team of Somple and Schilp will also market the property for sale as an investment opportunity on behalf of the owner, the firm added.
“With the completion of a long-term lease renewal stabilizing this asset, coupled with the property’s strategic location and the ever-rising demand for industrial space, 12 Sullivan St. is a highly attractive investment opportunity and we were confident that many buyers will be looking to capitalize on a red-hot market,” Schilp said in a statement.