46 Industrial Ave. in Mahwah — Courtesy: NAI James E. Hanson
By Joshua Burd
An e-commerce user has purchased a 54,000-square-foot industrial building in Mahwah, in a newly announced transaction by NAI James E. Hanson.
In a news release, the brokerage team said it represented Hendon Realty Associates LLC in its sale of 46 Industrial Ave. The unidentified buyer plans to use the space as an e-commerce distribution hub, the firm said, citing its proximity to Routes 17 and interstates 87 and 287.
NAI Hanson’s Russ Verducci and Eric Demmers completed the off-market deal. Terms were not disclosed.
“The high level of competition and the scarcity of useful and beneficial locations in the industrial market right now has increasingly forced industrial buyers to prioritize off-market deals,” Verducci said. “This can present an unanticipated opportunity for a property owner which is both exciting and nerve-wracking. However, our extensive market knowledge and experience can help sellers seamlessly navigate these situations to ensure the deal is to be completed efficiently and profitably.”
Located on six acres, 46 Industrial Ave. is equipped with solar panels and has 16-foot ceiling heights and 30-foot-by-20-foot column spacing. It’s also just off Franklin Turnpike and a short ride from a host of dining and retail options.
