Commercial real estate firm NAI James E. Hanson said June 26 it managed the sale of two mixed-use buildings in Hackensack for a total of $1.8 million in an all-cash transaction. The properties totaled 9,284 square feet at 268 and 270 Main St. in downtown Hackensack, the Bergen County seat.
NAI James E. Hanson Vice President Jonathan Kristofich and Associate William S. Pulzello represented the seller, Olympic Properties Inc., and Signature Realty NJ’s Cary Diec and Eliane Longhi represented the buyer, a private investor, in the transactions.
The properties are two contiguous, fully leased buildings with eight rent-controlled apartment units and two ground-floor retail units.
The retail space at 270 Main St. is leased to El Turco Grill, a Turkish restaurant, and 268 Main St. is leased to Camejo & Associates, an accounting and bookkeeping firm. The buildings are near the Johnson Public Library, the Hackensack Performing Arts Center, numerous new apartment buildings — The Downtown Hackensack Main Street Business Alliance said on its website that 2,495 apartment units are being built in the city — and dining and retail outlets.
“Downtown Hackensack’s ongoing revitalization makes it an attractive market for investors seeking strategically located, income-producing properties in northern New Jersey,” said Kristofich. “We are proud to help our client identify an all-cash buyer and structure a non-contingent contract to provide surety of closing in a challenging marketplace.”
