30 Wesley St. in South Hackensack — Courtesy: NAI James E. Hanson
By Joshua Burd
The owner of a South Hackensack industrial building has inked three leases for a total of nearly 87,000 square feet, brokers with NAI James E. Hanson announced Tuesday.
The real estate services firm represented the landlord, AEW Capital Management LP, in the transactions at 30 Wesley St., a 246,000-square-foot complex just north of Interstate 80. The activity includes a new lease with P&S Food Service, a lease renewal with NJ Label and a temporary lease with Walmart to accommodate for holiday overflow.
“These three separate transactions showcase NAI Hanson’s unmatched ability to close industrial deals, no matter the timeline or unique circumstances,” NAI Hanson’s Andrew Somple said in a prepared statement. “This is why so many institutional owners like AEW trust our team to represent their buildings in one of the nation’s most competitive industrial markets.”
Somple completed the transactions alongside Scott Perkins, Justin Allessio and Christopher Todd, also of NAI Hanson. In a news release, the team touted the building’s quick access to the New Jersey Turnpike, routes 17 and 46, the Garden State Parkway and New York City.
They also noted that the building features 58,000 square feet of available space that features ample parking, five tailgates and one drive-in. P&S Food Service, a freight shipping truck company that provides restaurants and stores with refrigerated beverages and food, relocated to the property from its previous location in Hackensack to accommodate for its growing space needs.
NJ Label, which specializes in labels, folding cartons and special packaging, is a long-term tenant that once again opted to renew its lease to continue to take advantage of 30 Wesley St.’s flexibility and accessible location, NAI Hanson said. Walmart, with a location at nearby Teterboro Landing, was facing space shortages in December before NAI Hanson and AEW negotiated a lease within days to help the retailer meet its requirement for overflow space during the holiday rush.
