NAI James E. Hanson completed the sale of a 90,000-square-foot industrial building at 722 Frelinghuysen in Newark, New Jersey. NAI Hanson’s sales associate Marta Sala, CCIM, CIPS, represented the buyer, Seoul Shik Poom, Inc.
“Warehouse and distribution real estate in the vicinity of Newark Liberty International Airport is in great demand, but very scarce,” said Ms. Sala. “The building at 722 Frelinghuysen has many characteristics that helped to seal the deal -- location, size and unusual high ceilings for the area and age of the building.”
722 Frelinghuysen is an industrial facility that sits on 2.95 acres of land in an area of Newark that is primarily populated by warehouse facilities situated on generous acreage. The existing building has 36 foot ceilings, ample parking and is convenient to the airport and major interstate highways including the New Jersey Turnpike, the Garden State Parkway, Route 21 and Routes #1 and #9. The new owner has future plans to redevelop the existing building.
About NAI James E. Hanson:
Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, relocation facilitation and financing expertise. NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with more than 375 offices spanning the globe.
For more information on NAI James E. Hanson, contact William C. Hanson, SIOR at the Company’s Hackensack headquarters at 201-488-5800 or visit www.naihanson.com.
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