55-57 Bushes Lane in Elmwood Park — Courtesy: NAI James E. Hanson
By Joshua Burd
A longtime owner in Elmwood Park has sold a 16,000-square-foot flex industrial building in the borough, under a newly announced transaction by NAI James E. Hanson.
Brokers with the firm represented RN Foster Associates LLC, a longtime client, in the sale of 55-57 Bushes Lane. Bushes Lane Realty Corp. acquired the property for an undisclosed price.
“Throughout our 20-plus-year relationship we’ve established a meaningful partnership that has enabled NAI to become trusted advisors and work with RN Foster Associates on numerous transactions together,” NAI Hanson’s Josh Levering said. “Our commitment to providing superior client service coupled with our deep local market knowledge allows the collaborative service of experts with varying expertise to enhance and create tailored real estate solutions that are unique to their needs.”
Levering represented RN Foster Associates alongside Nick DePaolera, while Mission Realty represented the buyer. In a news release, NAI Hanson noted that 55-57 Bushes Lane is a freestanding flex warehouse and manufacturing building, including about 3,500 square feet of office space that was fully renovated in 2015.
Building features include platform loading with drive-in capabilities, ample parking, air conditioning throughout and very heavy power, the news release said. NAI Hanson said the location, which includes other businesses such as high-tech, pharma and construction, provides immediate access to Interstate 80, routes 46, 21 and 208 and the Garden State Parkway.
Levering’s team has negotiated several deals on behalf of RN Foster, including acquisitions, leasing and then sales of two other office and flex properties within the three-building portfolio owned by the company, all located on Bushes Lane in Elmwood Park.
“Our team was able to deliver once again on behalf of our client and close on this fairly complicated transaction,” DePaolera said. “Consistency has been key and we along with our client are very pleased with the outcome.”
