93 Main Street in Hackensack — Courtesy: Alexander Anderson Real Estate Group
By Joshua Burd
A nonprofit and a credit union have inked new leases in downtown Hackensack, in deals brokered by Alexander Anderson Real Estate Group.
The commercial real estate firm announced Tuesday that Greater Bergen Community Action leased 392 Main St., a two-story, 11,000-square-foot property. The nonprofit, which serves as Bergen County’s federally designated antipoverty agency, also has an option to buy the property.
The agency is relocating from 240 Main St., a property it still owns but one that is being redeveloped into a 110-unit apartment building, Alexander Anderson said. Its new home includes on-site parking, two retail frontages and more than 5,300 square feet of warehouse space.
In the second deal, First Bergen Federal Credit Union leased 93 Main St., a 2,400-square-foot retail property formerly occupied by Chase Bank. The institution also is a former tenant of 240 Main St.
The Hackensack-based firm, which represented both the property owner and tenant in each transaction, touted the new leases as a sign of growing interest by commercial tenants in the city’s downtown redevelopment plan. A long-running effort by city officials and business leaders has helped overhaul the plans and zoning process for the downtown, resulting in new mixed-use development within the onetime commercial heart of Bergen County.
“The redevelopment of any downtown requires a few forward-thinking parties with a vision,” Eric Anderson, CEO of Alexander Anderson, said in a prepared statement. “We are excited to see that Greater Bergen Community Action saw the possibilities that Hackensack’s revitalized Main Street will offer, and that First Bergen Federal Credit Union remained committed to staying in downtown Hackensack.”
He said 392 Main St. had been on the market for sale periodically over the course of the last four years, but had not attracted much interest until now because it was located on a quiet end of Main Street. But Greater Bergen Community Action “saw the potential of the special improvement district as new developers, retailers and restaurants began showing interest and investing in the Main Street redevelopment plan.”