229 South Dean St. in Englewood — Courtesy: NAI James E. Hanson
By Joshua Burd
Two properties that could serve as a redevelopment site in Englewood have changed hands, following a transaction arranged by brokers with NAI James E. Hanson.
The commercial real estate firm said Thursday that it represented both the buyer and seller of the properties, which include 229 and 231 South Dean St. The former is currently occupied by a 3,400-square-foot, single-story car wash and auto detailing building, while the adjacent building is a two-story private residence.
Terms were not disclosed.
NAI Hanson’s Anthony Cassano represented the buyer and sellers in the deals, noting that both properties may be razed to allow for redevelopment of the sites. As a compelling case for redevelopment, he pointed to the area’s strong local demographics and the site’s close proximity to the New Jersey Turnpike and Route 4.
“The lack of easily developable land in Bergen County makes redevelopment sites like 229 and 231 South Dean Street rare in this market,” Cassano said. “Working with the sellers and the buyer and utilizing my market knowledge enabled me to negotiate a deal that was mutually beneficial for all parties to allow the buyer to begin plans for redevelopment.
“This sale will bring an exciting new development project to Englewood while providing the buyer with a strong value-add investment property.”
