NAI Hanson Completets 1,174 SF Retail Lease Agreement with Dina's Bagels in Nutley, NJ
By Mel Fabrikant Friday, October 23, 2009, 06:13 PM EDT
NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, recently completed a 1,147-square-foot long-term retail lease agreement on behalf of Dina's Bagels at 154 Washington Ave in Nutley, New Jersey. NAI Hanson's Michael Jamgotchian, sales associate, represented the landlord, Felicia Stafford of G&F Realty.
"In order to complete deals in this challenging economy, especially in the retail sector, landlords often times will throw in some sort of concession package to entice a potential tenant to sign a lease, which happened in this transaction where we gave the tenant few free months of rent in order to close the deal," said Jamgotchian. "In this specific transaction, Dina's Bagels was in search of a convenient Essex County retail location, which benefits from a dense and affluent population, amply and steady foot traffic and is easily accessible to a wide range of commuters. We are pleased to have been able to complete this transaction on behalf of our client on agreeable terms for both parties."
Located in Essex County, the second most densely populated counties in the state after Bergen County, in the heart of Nutley, which ranked the 38th best place to live in 2008 by New Jersey Monthly, 154 Washington Ave is a -1,147 square foot freestanding retail building, which offers tremendous access from both Park Avenue and Washington Ave, two major arteries to the surrounding towns of Nutley, Bellville, Clifton, North Arlington, and Lyndhurst. The building features amenities such as ample parking and excellent signage.
"There was a lot of interest from a wide range of food vendors in this space, but we faced a good deal of hurdles to overcome because of the building's layout. After conducting an extensive search, we were able to find this tenant who was happy with the existing layout and we were able to negotiate a long-term lease," stated Jamgotchian. "We are thrilled to have been involved in such a successful transaction on behalf of a well-established client and we look forward to completing similar deals in this submarket in the future."
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.
"In order to complete deals in this challenging economy, especially in the retail sector, landlords often times will throw in some sort of concession package to entice a potential tenant to sign a lease, which happened in this transaction where we gave the tenant few free months of rent in order to close the deal," said Jamgotchian. "In this specific transaction, Dina's Bagels was in search of a convenient Essex County retail location, which benefits from a dense and affluent population, amply and steady foot traffic and is easily accessible to a wide range of commuters. We are pleased to have been able to complete this transaction on behalf of our client on agreeable terms for both parties."
Located in Essex County, the second most densely populated counties in the state after Bergen County, in the heart of Nutley, which ranked the 38th best place to live in 2008 by New Jersey Monthly, 154 Washington Ave is a -1,147 square foot freestanding retail building, which offers tremendous access from both Park Avenue and Washington Ave, two major arteries to the surrounding towns of Nutley, Bellville, Clifton, North Arlington, and Lyndhurst. The building features amenities such as ample parking and excellent signage.
"There was a lot of interest from a wide range of food vendors in this space, but we faced a good deal of hurdles to overcome because of the building's layout. After conducting an extensive search, we were able to find this tenant who was happy with the existing layout and we were able to negotiate a long-term lease," stated Jamgotchian. "We are thrilled to have been involved in such a successful transaction on behalf of a well-established client and we look forward to completing similar deals in this submarket in the future."
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.
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