99 Bauer Drive in Oakland — Courtesy: NAI James E. Hanson
By Joshua Burd
A property owner in northern Bergen County has expanded its portfolio with the purchase of an office and flex property in Oakland, following a deal brokered by NAI James E. Hanson.
The commercial real estate firm said the property, located at 99 Bauer Drive, includes 20,396 square feet. It is occupied by RCM Technologies and Zak Events Inc.
NAI Hanson’s Arthur Hixson, Andrew Kirshenbaum and Barry Mayer negotiated the sale, the Hackensack-based firm said in a news release Thursday. The brokers did not disclose financial terms or the names of the parties involved in the transaction.
“The building was fully leased at the time of the transaction allowing the seller to capitalize on its high occupancy rate,” Hixson said. “The full tenant roster was attractive to the buyer who owns other properties nearby and was looking to expand their investment portfolio.
“We were able to meet the requirements of the buyer and seller and negotiate a mutually beneficial agreement.”