NAI Hanson negotiates $1.5M land sale to develop day care center in Hackensack

NAI James E. Hanson on Wednesday said it sold a 0.48-acre land site that was recently site plan approved for the construction of a 15,000-square-foot day care center in Hackensack for $1.5 million.

Located at 547-555 Main St., the properties are comprised of two separate lots improved by a 2.5-story mixed-use building on each lot. The lots are in close proximity to approximately 2 million square feet of Class A office space, the Shops at Riverside, Farleigh Dickinson University’s Metropolitan Campus, thousands of new luxury apartments, Route 4, several New Jersey Transit bus routes and NJ Transit’s Anderson Street Station.

NAI Hanson’s Jonathan Kristofich represented the seller in the transaction with buyer, Yasmeen Fatima Property LLC, who was represented by Devin Perez of Sotheby’s Prominent Properties.

After 40-years of operating a very successful family chiropractic center, the seller tapped Hanson to secure a buyer — which it quickly did — for the properties. Hanson located a buyer that was interested in offering a universal pre-K-4 program to the community. This spring, the buyer obtained site plan approval from the Hackensack zoning board to build a 15,000-square-foot day care center, which was designed by Cheryl Schweiker, an associate at Jarmel Kizel Architects and Engineers, to meet the growing demand for child care services in the area.

“Finding suitable land sites for redevelopment in Hackensack is not an easy feat,” Kristofich said. “In this transaction, it was a pleasure to work with the longtime owner of the property in navigating them through the land entitlement process, which can be time consuming. All in all, the transaction took 54 weeks from contract signing to closing, inclusive of the due diligence period and approval process. Kudos to the buyer and Devin Perez for assembling the A-team of third-party professionals to complete the design of the building and submit to the zoning board in a timely fashion.”

“I welcomed the opportunity to provide a solution to accommodate a child care center on this challenging site. Safety and well-being for the end user as well as adhering to the strict guidelines of state licensing resulted in a facility that benefits the community,” Schweiker added.