550 Huyler St. in South Hackensack — Courtesy: NAI James E. Hanson
By Joshua Burd
An auto parts distributor has leased nearly 28,000 square feet of industrial space in South Hackensack, under a newly announced transaction by NAI James E. Hanson.
Brokers with the firm represented Folman Co., the landlord at 550 Huyler St., in the full-building deal with Parts Authority. The leasing team also represented the tenant, which will use the 27,500-square-foot property for warehousing and distribution.
The deal follows recent renovations by the landlord, NAI Hanson said, as it sought to capitalize on the building’s location near Interstate 80 and Route 46 and the strong demand for modern industrial space.
“Although we have seen sustained demand for all classes of industrial assets in the Bergen County market, the pricing for new or recently renovated buildings like 550 Huyler Street continues to stand at record high levels,” NAI Hanson’s Tom Vetter said. “In such a deep and mature market, these types of properties represent the gold standard in industrial spaces and, as we saw with this transaction, are consistently able to attract long-term commitments from credit grade tenants like Parts Authority.”
Vetter brokered the lease alongside colleagues Jeffrey DeMagistris, Scott Perkins and Christopher Todd. They noted that 550 Huyler is a single-story property with 14-foot ceiling heights, 2,500 square feet of air-conditioned office space, one drive-in door and one tailgate, as well as 30 parking spaces.
Folman’s upgrades included the replacement of the building’s front doors, façade, roof, HVAC, bathrooms and carpeting in its office spaces, as well as the complete painting of the interior and sealing of its floors, NAI Hanson said. The firm also added modern lighting.
Parts Authority, one of the largest distributors of automotive and truck parts to the U.S. aftermarket auto parts industry, serves commercial customers including installers, dealerships, fleets and national accounts, according to a news release. Headquartered in Lake Success, New York, the company has more than 185 locations across the country.