20 Industrial Ave. in Upper Saddle River — Courtesy: NAI James E. Hanson
By Joshua Burd
A company is relocating from Rockland County after purchasing a 12,000-square-foot industrial flex property in Upper Saddle River, according to a broker with NAI James E. Hanson.
The buyer, RT Direct Distributors, paid an undisclosed price for the two-story building at 20 Industrial Ave., which will serve as its new headquarters and as rentable space. NAI Hanson’s Justin Allessio represented the seller, 20 Industrial Ave LLC, and the buyer, noting that the latter is moving to the site from Chestnut Ridge, New York.
“Industrial-flex properties are always in demand as a result of the adaptability they provide to property owners,” Allessio said. “This existing demand coupled with the rising urgency showed by prospective buyers in recent years puts the owners of these properties in a highly advantageous situation. Once an owner expresses a desire to sell, we are happy to provide our clients with the solutions they need to act quickly and take advantage of the current market.”
In a news release, NAI Hanson said 20 Industrial Ave. is a fully air-conditioned building with 6,000 square feet of office space, two drive-ins, one ramp tailgate, 800-amp electrical service and 25 parking spots. It sits directly off Route 17, providing easy access to interstates 87 and 287, Route 208, the New Jersey Turnpike and the George Washington Bridge.
RT Direct Distributors plans to occupy the first floor while renting out the second floor, Allessio said.