Improved land parcel in Kearny sells for $26.3M, NAI Hanson says

A parcel of land in Kearny has been sold for $26.3 million, according to real estate firm NAI James E. Hanson.

The firm said in a news release that the improved property at 97 3rd St. was purchased by Terreno from an undisclosed seller. The acquisition gives Terreno a portfolio of more than 3.5 million square feet in the northern New Jersey and New York City region, NAI Hanson said.

NAI Hanson’s Kenneth Lundberg, Patrick Lennon and Lorenzo Lambiase represented the buyer in the transaction.

“Finding suitable investment properties in the northern New Jersey and New York City area only grows more difficult by the day,” Lundberg said in a prepared statement. “In such a tight market, it has never been more important for buyers to tap a seasoned and experienced team of brokers that have the local relationships and market knowledge to find deals. We are pleased to be able to leverage our expertise in this region to help Terreno enhance its portfolio.”