NAI Hanson Completes Sale of Two Unique Retail/Office/Investment Properties in South Hackensack, NJ

- Anthony Cassano completes two transactions totaling more than 17,500 square feet -

NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, has recently completed two separate sales of retail /investment properties, which total more than 17,500-square-feet and sold for close to two million dollars located at 460 Route 46 West and 480 Route 46 West in South Hackensack, New Jersey. NAI Hanson's Anthony J. Cassano, Associate Vice President, represented the seller, The Estate of Hans Wertheimer and the Buyer, in both transactions.

"Located in Bergen County, both properties benefit from their close proximity to Teterboro Airport, major highways, and New York City, as well as their tremendous visibility from Route 46 West, which boasts traffic counts of 45,186 cars per day," said Cassano. "In addition, both buildings are fully leased, so the new owner has the added ease of not having to find additional tenants to fill this investment site. And, given the excellent location of these two properties, the owner should be able to find prospective new tenants who might want to relocate into these locations at the end of the current lease terms, making these transactions excellent long-term investments."

The first property is a 12,500-square-foot single-story free standing building, which is situated on a 22,570-square-foot lot at 460 Route 46 West in South Hackensack, within close proximity to both Interstates 80 and 90, Teterboro Airport, and New York City, and includes ample parking. The property was sold to Dr. Robert Yang, who was represented by Anthony Cassano in this transaction, and is currently being utilized as retail and office space for Syntec Technical School. The second property is located adjacent to the first building, at 480 Route 46 West in South Hackensack. Spanning 5,000 square feet across a 12,200-square-foot lot, this single-story free-standing building also has ample parking and is currently being used as a retail space for Marcone Appliance Parts. Anthony Cassano also represented the buyer, David Haziza, in this transaction.

"These transactions are representative of the opportunities that can abound in a down market, where a local investor has enough available capital to purchase well-located properties, which are 100 percent occupied, at competitive price points, allowing for both immediate and future returns on the investment," explained Cassano. "NAI Hanson is fortunate to have a diverse platform of services, which allows us to successfully pair prime properties such as these with successful and motivated buyers. We believe that these properties will see high levels of return for many years to come and we are thrilled to have been able to complete these transactions on behalf of our client."

About NAI James E. Hanson
Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate 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, government services and financing expertise.

NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with over 325 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company's Hackensack office at 201-488-5800 or visit www.naihanson.com.