211 Island Road in Mahwah — Courtesy: NAI James E. Hanson
By Joshua Burd
A tenant from just over the state’s northern border will relocate to a warehouse in Mahwah, after acquiring the site in a deal brokered by NAI James E. Hanson.
In a news release Thursday, the brokerage said it negotiated the trade of the 108,237-square-foot property at 211 Island Road. The buyer, Mahwah 2016 LLC, will shift and expand its Rockland County, New York-based business by occupying 32,547 square feet there, while taking over management of the remaining space.
NAI Hanson’s Kenneth Lundberg and Patrick Lennon handled the assignment on behalf of 211 Island Road Associates L.P.
Located in Mahwah’s GI-80 General Industry Zone, 211 Island Road is also home to Ramsey Subaru, which occupies 55,000 square feet, NAI Hanson said. The sale will allow the buyer to receive cash flow from the property, which is covering the mortgage, while also offering the opportunity for future expansion as other leases expire.
“Ultimately business owners place a high premium on flexibility and adaptability when they are looking to purchase a space,” Lennon said in a prepared statement. “A property like this given its location and adaptable layout with an existing tenant base can secure a high dollar amount on the open market and we were happy to negotiate a mutually beneficial sale on behalf of our client.”
The building, part of the Mahwah Business Park, features heavy power and 10 loading docks, the news release said. It is located at the full interchange of Route 17 and MacArthur Boulevard, with frontage along Island Road.
