NAI James E. Hanson on Thursday said it sold a 152,000-square-foot industrial building at 55 E. 6th St. in Paterson.
NAI Hanson’s Russell Verducci and Eric Demmers, along with Hanna Commercial Real Estate, represented the seller, Kirker Enterprises Inc., in the transaction with buyer, 55 East 6 LLC.
Located on three acres, 55 E. 6th St. features four drive-ins, 12 loading docks and 14-to-22-foot ceiling heights throughout. The property is located near Interstate 80 and Route 208, as well as the Paterson train station.
The seller hoped to capitalize on northern New Jersey’s strong commercial real estate market through a sale-leaseback transaction. Leveraging their extensive work in the market and deep local contacts, NAI James E. Hanson and Hanna Commercial Real Estate created a marketing plan to meet the seller’s request and secured a buyer who intends to use the property as an investment asset.
“Industrial properties have long been a lucrative asset within an investment portfolio,” Verducci said. “In the current market, we’re continuing to see buyers aggressively pursue properties within the northern New Jersey’s industrial market to capture the continued price-per-square-foot increases seen over the past several years.”