55 East 6th St. in Paterson — Courtesy: NAI James E. Hanson
By Joshua Burd
An investor has acquired an industrial building in Paterson as part of a sale-leaseback with a nail care company, in a newly announced transaction by NAI James E. Hanson.
The buyer, 55 East 6 LLC, paid an undisclosed sum for the 152,000-square-foot property at 55 East 6th St. NAI Hanson’s Russell J. Verducci and Eric Demmers teamed with Hanna Commercial Real Estate to represent the seller, Kirker Enterprises Inc., noting that the seller hoped to sell and lease back the property to capitalize on northern New Jersey’s strong commercial real estate market.
According to its website, Kirker is a custom manufacturer of nail lacquer and nail care treatment products.
“Industrial properties have long been a lucrative asset within an investment portfolio,” Verducci said. “In the current market, we’re continuing to see buyers aggressively pursue properties within the northern New Jersey’s industrial market to capture the continued price-per-square-foot increases seen over the past several years.”
Located on three acres, the property is about two miles from both Interstate 80 and Route 208. NAI Hanson said the building has four drive-ins, 12 loading docks and 14- to 22-foot ceiling heights.