NAI James E. Hanson sold a 132,135-square-foot industrial/flex complex in Clifton for an undisclosed dollar amount, according to a Thursday announcement from the firm.
Hanson’s Andrew Somple represented the seller, 1913 Realty Associates LLC.
Located at at 65-75 and 125-127 Kingsland Ave., the plaza boasts 57,000-square-foot and 68,000-square-foot industrial/flex buildings situated on 6.23 acres of land. Conveniently located at the intersection of Routes 3 and 21, this property’s central location allows for near-immediate access to New York City, as well as the region’s major transportation arteries, including the New Jersey Turnpike and the Garden State Parkway.
The building also features mezzanine office space with a total of 19 tailgates and four drive-ins, as well as expansive on-site parking with over 200 spaces. Further highlighting its excellent investment value, the nearly fully leased complex is also home to an impressive existing roster of tenants.
The buyer recognized the highly sought-after property’s potential as an exceptional investment opportunity. Impressed by the combination of the property’s flexible spaces, proximity to New York City and stability offered by the current tenant roster, the buyer saw the property as an ideal acquisition in the booming industrial market.
“This deal further underscores our team’s ability to represent the interests of sellers by showcasing properties’ full value to enable our clients to take advantage of the high demand for versatile and centrally-located industrial spaces across the state,” Somple said. “We look forward to continue leveraging our local relationships and exceptional market expertise to help our clients find value for their properties in the increasingly competitive northern New Jersey market.”