NAI James E. Hanson on Thursday said it sold a 28,000-square-foot industrial building in Hillside.
Hanson’s Eric Demmers and Russel Verducci represented the seller, Certified Processing, in the transaction with Madison Exchange, a neighboring owner, which plans to demolish the existing structure to construct additional parking space for its existing business.
Located at 184 Route 22 E., in the heart of Union County, the property sits on 1.41 acres of land. Conveniently located nearby major transportation arteries including Interstate 78, Route 9 and the Garden State Parkway, the site’s central location allows for direct access and prime visibility to some of the region’s most highly trafficked areas.
Currently vacant, 184 Route 22 E.’s sizable lot space and favorable location made it a highly sought-after property among institutional real estate investors, private buyers and potential developers.
“This deal further demonstrates our team’s consistent ability to construct exceptional marketing strategies to attract quality buyers, no matter what the current state of the property might be,” Demmers said. “Capitalizing on the severe supply gap in industrial parking, we were able to help our client find a buyer who was interested in acquiring what was a functionally obsolete warehouse space. We look forward to continuing to leverage our local relationships and strong market expertise to help our clients find value for their properties in the competitive northern New Jersey market.”