11 Leuning St. in South Hackensack — Courtesy: NAI James E. Hanson
By Joshua Burd
An electrical contractor has purchased a 5,300-square-foot industrial building in South Hackensack, in a newly announced deal by NAI James E. Hanson.
The new owner, Bana-AO LLC, plans to use the space to operate its business after paying an undisclosed price for the property at 11 Leuning St. NAI James E. Hanson’s Justin Allessio represented the seller, Premier Group Holdings Inc., having also brokered the sale of the building in fall 2020.
He noted that, in the most recent trade, Premier Group nearly doubled its purchase price for the property.
“Coming out of the COVID-19 pandemic we’ve continued to see demand for industrial space in the South Hackensack market,” Allessio said. “Making sure our clients get the highest possible value for their assets is our top priority. We’ve been able to accomplish that twice in under three years at 11 Leuning Street and look forward to helping clients find similar success in this highly competitive market.”
NAI Hanson added that the property sits just off Interstate 80, placing it 10 miles from New York City and 18 miles from Port Newark-Elizabeth. The building has 1,900 square feet of office space, with 20-foot ceiling heights and a loading tailgate.