NAI James E. Hanson on Monday announced it sold a 54,000-square-foot industrial building in Mahwah to an undisclosed buyer who plans to use the building as an e-commerce distribution hub.
NAI James E. Hanson’s Russ Verducci and Eric Demmers represented the seller, Hendon Realty Associates LLC, in the transaction.
Located at 46 Industrial Ave., the 54,000-square-foot industrial building is equipped with solar panels and 16-foot ceilings and sits in close proximity to Routes 17 and 87 and Interstate 287. It sits on six acres of land. Nearby Franklin Turnpike provides easy access to amenities such as local eateries and shopping.
Hendon Realty Associates recognized that the current industrial market provides owners with a unique ability to capture premium values from their assets across northern New Jersey.
“The high level of competition and the scarcity of useful and beneficial locations in the industrial market right now has increasingly forced industrial buyers to prioritize off-market deals,” Verducci stated. “This can present an unanticipated opportunity for a property owner which is both exciting and nerve-wracking. However, our extensive market knowledge and experience can help sellers seamlessly navigate these situations to ensure the deal is to be completed efficiently and profitably.”