The sale and partial leaseback of a 9,000-square-foot office building located at 55 State St. in Hackensack was negotiated by NAI James E. Hanson, according to a Tuesday announcement from the full-service independent commercial real estate firm.
Hanson Vice Presidents Anthony Cassano and Dick Hecker represented the seller, Iron Capital Management, and the buyer, 55 State St. Holdings LLC, in the transaction.
Just one block from the Bergen County Courthouse and Administrative Complex, 55 State St. is a two-floor office building, perfectly suited for attorneys and other professional service businesses. As part of the sale agreement, the previous owner, who operated a law firm on the second floor, will lease back the space and continue the practice. The building’s new owner, also a practicing attorney, will occupy a 4,500-square-foot vacant space on the lower level.
“The Bergen County Courthouse and Administrative Complex remains a key demand driver for Downtown Hackensack’s office sales and leasing market,” Cassano said. “With the anticipated influx of new residents and businesses in the coming years, we expect the market to become even more competitive, making properties like 55 State St. highly attractive investment opportunities for owner-operators.”
