20 Bushes Lane in Elmwood Park — Courtesy: NAI James E. Hanson
By Joshua Burd
A recently upgraded, 15,700-square-foot flex industrial building has changed hands in Elmwood Park, following a sale arranged late last year by NAI James E. Hanson.
The firm said recently that it represented both sides in the sale of 20 Bushes Lane, which in 2015 underwent improvements to its utilities, roof and mechanicals, along with a complete interior renovation. Terms were not disclosed.
NAI Hanson’s Joshua Levering and Nicholas DePaolera represented the seller, RN Foster Associates LLC, which is a longtime client of the Hackensack-based firm. Andrew Somple of NAI Hanson represented the buyer, 20 Bushes Lane LLC.
“It is an ideal acquisition for the buyer because the new occupant is relocating from their existing facility in nearby Garfield and this building had many of the features that were required,” Somple said, noting that the new owner will use the facility to manufacture valves and regulators.
NAI Hanson said its relationship with RN Foster Associates goes back more than a decade and spans several deals. Most recently, the brokerage team negotiated a deal to sell 10 Bushes Lane, a 9,963-square-foot industrial building, on behalf of RN Foster Associates earlier this year.
In addition to its upgrades, 20 Bushes Lane includes two loading docks, each with heavy lift levelers, and ample parking, NAI Hanson said. The building offers quick access to Interstate 80 and the Garden State Parkway.
“We want to build relationships on a foundation of consistent, superior client service,” Levering said. “By emphasizing a hands-on and engaged approach when working with clients, big or small, we have been able to forge lasting business relationships such as this.
“The trust clients place in us when we represent them enables us to efficiently and creatively market properties in high-demand marketplaces like Bergen County.”