59-71 Oak St. in Hackensack — Courtesy: NAI James E. Hanson
By Joshua Burd
Brokers with NAI James E. Hanson have announced the sale of a fully leased, 28,000-square-foot industrial building in Hackensack.
The buyer, Oak Street Realty LLC, paid an undisclosed sum for the property at 59-71 Oak St., which is less than a mile from Route 4 and easily accessible from several other nearby highways. Currently leased to six tenants, the building has 18-foot clear ceiling heights as well as dedicated drive-ins and mezzanine office space for each unit.
NAI James E. Hanson’s Jonathan Kristofich represented the seller, 59-71 Oak Street LLC, and the buyer.
“Whether an investor is hoping to redeploy capital tied up in real estate or looking for long-term value through the ownership of a stabilized asset in a market with strong long-term fundamentals, the northern New Jersey industrial market’s current pricing environment continues to provide both buyers and sellers with significant opportunities for value creation,” Kristofich said. “We were happy to leverage our deep industrial sales expertise in this competitive market to help both sides of this deal reach their investment goals.”
