Auto parts company leases industrial property in S. Hackensack

An automotive parts company has leased an industrial building in South Hackensack, according to real estate firm NAI James E. Hanson.

The firm said in a news release that Parts Authority has leased the 27,500-square-foot building at 550 Huyler St. from Folman Co.

NAI Hanson’s Thomas Vetter, Jeffrey DeMagistris, Scott Perkins and Christopher Todd represented both the landlord and tenant in the transaction.

“Although we have seen sustained demand for all classes of industrial assets in the Bergen County market, the pricing for new or recently renovated buildings like 550 Huyler St. continues to stand at record-high levels,” Vetter said in a prepared statement. “In such a deep and mature market, these types of properties represent the gold standard in industrial spaces and, as we saw with this transaction, are consistently able to attract long-term commitments from credit-grade tenants like Parts Authority.”