NAI James E. Hanson on Wednesday said it negotiated the sale of a 5,300-square-foot industrial building at 11 Leuning St. in South Hackensack.
Hanson’s Justin Allessio represented the seller, Premier Group Holdings Inc. The property sold for nearly double what it did in its previous sale, a deal also negotiated by NAI James E. Hanson less than three years ago.
“Coming out of the COVID-19 pandemic, we’ve continued to see demand for industrial space in the South Hackensack market,” Allessio said. “Making sure our clients get the highest possible value for their assets is our top priority. We’ve been able to accomplish that twice in under three years at 11 Leuning St., and look forward to helping clients find similar success in this highly competitive market.”
Located just 10 miles away from New York City, 11 Leuning St.’s flexible industrial space is in an ideal business location, sitting just off of Interstate 80. Port Newark-Elizabeth is a mere 18 miles away, while Newark Liberty International Airport is located 19 miles away from the property. The building boasts 1,900 square feet of office space, with 20’ ceilings and a loading tailgate. The new owner, Bana-AO LLC, plans to use the space to operate its electrical contracting business.