39 Hudson St. in Hackensack — Courtesy: NAI James E. Hanson
By Joshua Burd
The longtime owner of a 34,000-square-foot office building in Hackensack has sold the property to one of its tenants, the Bergen County government, under a deal arranged by NAI James E. Hanson.
The commercial real estate firm announced that it represented HAMM Associates LLC in its sale of 39 Hudson St., which sits directly across from the Bergen County Courthouse. The county government, which has leased 21,090 square feet at the building since 2013, opted to purchase the property as a long-term investment.
NAI Hanson’s Judy Troiano represented HAMM Associates LLC in the sale and has handled leasing on behalf of the landlord for more than 20 years, according to a news release. During that time, she has negotiated more than 40 leases.
“It is becoming increasingly difficult for landlords to market larger office buildings as the needs of tenants continue to shift toward smaller footprints and shorter lease terms,” Troiano said. “In this uncertain market, landlords recognize the value in leveraging the expertise of a trusted broker and we were pleased to help arrange this sale and provide strategic counsel to further demonstrate value to a long-term client.”
She touted the building’s proximity to routes 4, 17 and 46, along with Interstate 80 and the New Jersey Turnpike.