NAI James E. Hanson negotiated the sale of a 12,000-square-foot industrial/flex property at 20 Industrial Ave. in Upper Saddle River.
NAI Hanson’s Justin Allessio represented the buyer, RT Direct Distributors, and the seller, 20 Industrial Ave LLC, in the transaction.
20 Industrial Ave. is a fully air-conditioned two-story, 12,000-square-foot industrial/flex building with 6,000 square feet of office space, two drive-ins, one ramp tailgate, 800-amp electrical service and 25 parking spots. Located directly off Route 17, the property provides easy access to Route 208, Interstates 87 and 287 and the New Jersey Turnpike, as well as the George Washington Bridge.
Recognizing NAI Hanson’s success in closing industrial transactions across the northern New Jersey market, the seller tapped the firm as the exclusive brokerage firm for the property with the goal of benefiting from the demand for well-located industrial/flex properties. RT Direct Distributors, which needed a high-quality property to facilitate its relocation from New York, was interested in the property’s location and flexible usage. The full-service food distributor plans to rent the second floor and use the first floor as its new headquarters location.
“Industrial/flex properties are always in demand as a result of the adaptability they provide to property owners,” Allessio said.. “This existing demand, coupled with the rising urgency showed by prospective buyers in recent years, puts the owners of these properties in a highly advantageous situation. Once an owner expresses a desire to sell, we are happy to provide our clients with the solutions they need to act quickly and take advantage of the current market.”