12 Sullivan St. in Westwood — Courtesy: NAI James E. Hanson
By Joshua Burd
A consumer electronics seller has renewed its lease at an 11,360-square-foot industrial building in Westwood, under a newly announced transaction by NAI James E. Hanson.
The property, 12 Sullivan St., serves as a metro New York distribution center for Laguna 2 LLC, according to a news release. NAI Hanson’s Andrew Somple and John Schilp represented both the tenant and the landlord, 12 Sullivan Street LLC, which has also tapped the brokerage team to market the property for sale as an investment opportunity.
“Demand for industrial properties of all sizes remains high, especially for those located in the Bergen County market due to its strategic location and tremendous accessibility to the Greater New York City area,” Somple said. “We were pleased to work collaboratively with both the landlord and tenant to negotiate a deal that was mutually beneficial for both parties and allowed the tenant to continue to operate seamlessly out of this space.”
Founded in 2011 by an executive sales team with more than 80 years of combined experience, Laguna 2 LLC specializes in merchandising and selling new, end of life, discontinued and refurbished consumer electronics across a variety of channels, the news release said. The company’s Westwood space allows it to drop ship thousands of packages daily to consumers via partnerships in flash commerce and e-commerce, while providing added efficiency in the company’s direct purchasing of premium products from manufacturers.
The location also provides it with proximity to the Garden State Parkway, the Palisades Interstate Parkway, routes 17 and 4 and other major highways, NAI Hanson said. The firm added hat it’s some 13 miles from both the Gov. Mario M. Cuomo Bridge and the George Washington Bridge.
“With the completion of a long-term lease renewal stabilizing this asset, coupled with the property’s strategic location and the ever-rising demand for industrial space, 12 Sullivan Street is a highly attractive investment opportunity and we are confident that many buyers will be looking to capitalize on a red hot market,” Schilp said. “We look forward to leveraging our local market knowledge and industry expertise to market this property and secure a buyer on behalf of our client.”
