30 Corporate Drive in Wayne — Courtesy: NAI James E. Hanson
By Joshua Burd
Forsgate Industrial Partners has acquired a nearly 160,000-square-foot industrial building in Wayne, under a newly announced transaction by NAI James E. Hanson.
The buyer, which is based in Teterboro, paid an undisclosed price for the 156,627-square-foot property at 30 Corporate Drive, making it the latest addition to its large New Jersey industrial portfolio. NAI Hanson’s Michael Walters and Cameron Silverstein represented the seller, Robert Michael Associates LLC, noting that the Naples, Florida-based client asked to close the deal by year-end 2020.
“While the northern New Jersey industrial sales market continues to see tremendous demand coupled with a limited supply, challenges still exist with any transaction,” Walters said. “For sellers, leveraging the local market knowledge, relationships and transactional management experience of professional commercial real estate brokers like those on our team at NAI Hanson can make all the difference in realizing the full market potential of unique assets like 30 Corporate Drive. This deal exemplifies the advantages of working with a local broker as we were able to facilitate a seamless sale on behalf of our client while helping the buyer grow its portfolio of Class A industrial assets.”
Built in 1984, 30 Corporate Drive features 15 loading docks, 26-foot ceilings heights, 40-foot by 40-foot column spacing and 78 parking spaces, NAI Hanson said. The firm also touted its location just miles from Interstate 80 and routes 23 and 46, along with its adaptability, structural integrity and accessibility.