130 Wesley St. in South Hackensack — Courtesy: NAI James E. Hanson
By Joshua Burd
NAI James E. Hanson has completed the sale of a 20,000-square-foot industrial building in South Hackensack, touting it as a rare opportunity in the central Bergen County submarket.
Brokers with the firm represented the seller, Wesley Lab LLC, in the transaction at 130 Wesley St. The team of Darren Lizzack and Randy Horning announced the deal Tuesday while highlighting its location directly off Interstate 80, while noting that the building had not undergone significant renovations since 1984.
The brokers sought to address that need by hiring Eric Gatti and Steven Williard of G Williams Group, a regional construction services firm, to conduct a property condition assessment that resulted in detailed descriptions, photos, evidence and estimates for updating the building. According to NAI Hanson, the assessment was key in closing the sale to PPF Jersey LLC for an undisclosed price.
Friedberg Properties represented the buyer. NAI Hanson added that Wesley Lab has retained Lizzack and Horning to identify an acquisition opportunity to complete a 1031 exchange.
“The sale of 130 Wesley Street once again shows how we can deploy the complete end-to-end services of our team and network of trusted local companies to meet our clients’ needs while fostering successful, long-term relationships throughout the commercial real estate industry,” Lizzack said.
