NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has negotiated the sale of a 28,000-square-foot industrial building located at 184 Route 22 East in Hillside, N.J. NAI James E Hanson’s Eric Demmers and Russel Verducci, SIOR, represented the seller, Certified Processing, in the transaction with Madison Exchange, LLC / HYK LLC.
Situated in the heart of Union County, 184 Route 22 East is a 28,000-square-foot industrial building sitting on 1.41 acres of land. Conveniently located nearby major transportation arteries including Interstate 78, Route 9, and the Garden State Parkway, the property’s central location allows for direct access and prime visibility to some of the region’s most highly trafficked areas. Currently vacant, 184 Route 22 East’s sizable lot space and favorable location made it a highly sought-after property among institutional real estate investors, private buyers and potential developers.
The buyer, a neighboring owner, plans to demolish the existing structure to construct additional parking space for their existing business.
“This deal further demonstrates our team’s consistent ability to construct exceptional marketing strategies to attract quality buyers, no matter what the current state of the property might be,” said Demmers. “Capitalizing on the severe supply gap in industrial parking, we were able to help our client find a buyer who was interested in acquiring what was a functionally obsolete warehouse space. We look forward to continuing to leverage our local relationships and strong market expertise to help our clients find value for their properties in the competitive northern New Jersey market.”
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