112 South Washington Ave., 96 South Washington Ave. and 101 Portland Ave. in Bergenfield — Courtesy: NAI James E. Hanson
By Tina Traster
NAI James E. Hanson has negotiated the sale of a nearly 31,000-square-foot mixed-use portfolio of commercial properties in Bergenfield.
According to the brokerage firm, the deal includes three interconnected office and retail buildings at 112 South Washington Ave., 96 South Washington Ave. and 101 Portland Ave. NAI Hanson Vice President Anthony Cassano represented both the buyer, Sun Rock LLC, and the seller, Beucler Family Limited Partnership, in the transaction, the terms of which were not disclosed.
“Mixed-use properties are always of interest for buyers hoping to diversify their investment portfolios,” Cassano said. “What makes a property even more attractive are multiple in-place tenants that can produce immediate income for the new owner while promising additional income from potential redevelopment opportunities. I’m proud to have provided my services to both parties and am excited to see what’s ahead for this portfolio.”
The largest of the three buildings, 112 South Washington Ave., is a two-story, 15,000-square-foot office and retail structure with 48 feet of frontage on South Washington Avenue, entry capability from Portland Avenue and on-site parking, according to a news release. Just down the block, 96 South Washington Ave. is a two-story, 6,010-square-foot building also featuring second-floor office space and ground-floor retail space.
Meantime, 101 Portland Ave. is a one-story, 9,694-square-foot retail mini-mall, NAI Hanson said. Earlier this year, the firm negotiated leases for 2,800 square feet with New Grand Supermarket and 2,450 square feet with SportsCare Physical Therapy, which fully leased the property.
Tina Traster is a freelance writer and the editor of Rockland County Business Journal. She is also a former business writer for Crain’s New York Business, real estate writer for the New York Post and staffer at the Bergen Record.
