10 Bushes Lane in Elmwood Park — Courtesy: NAI James E. Hanson
By Joshua Burd
The longtime owner of an industrial and flex portfolio in Elmwood Park has sold one of the buildings, in a deal arranged by brokers with NAI James E. Hanson.
In a news release, NAI Hanson said it represented RN Foster Associates LLC in the sale of the 9,963-square-foot building at 10 Bushes Lane. The seller is a real estate entity for Trolex Corp., a manufacturer of zone damper systems for HVAC equipment, which sought to sell the space since its business has grown and requires a larger building.
Terms were not disclosed.
NAI Hanson’s Joshua Levering and Nicholas DePaolera handled the assignment for the Hackensack-based brokerage team, the news release said. Levering also brokered RN Foster’s original purchase of the property in 1995 and has continued to work with the firm.
NAI Hanson also is the exclusive listing agent for the sale of the remainder of RN Foster’s Bushes Lane portfolio, which includes two other buildings totaling more than 30,000 square feet.
“Building long-term relationships with clients like RN Foster is crucial to our success and a focus of every broker at NAI Hanson,” Levering said in a prepared statement. “By continually providing first-class commercial real estate expertise on behalf of our clients and customers, we are often able to oversee multiple deals for many of our clientele.
“Our representation of RN Foster has gone on for over 20 years and would not be possible without NAI James E. Hanson’s commitment to provide the local expertise and knowledge that allows our team at NAI Hanson to stand out amongst our peers.”