NAI James E. Hanson announced the sale of a 130,000-square-foot industrial building at 7300 West Side Avenue in North Bergen, N.J.
NAI James E. Hanson’s Scott Perkins, SIOR, Greg James, and Chris Todd represented the buyer, Roman Real Estate Holdings, Inc., in the transaction with Link Industrial Properties, Blackstone’s US industrial real estate operating platform. Bonnie Heller of Cushman and Wakefield represented the seller.
“We continue to see a surge in industrial acquisition activity in the New York City area as available industrial space has been all but spoken for over the past several quarters,” said Todd. “As a result, deals of this size have become increasingly rare and expensive in this type of market. For sellers, although this can be highly advantageous, it can also be overwhelming and quite complex. We were able to leverage our deep expertise in this market and our full suite of commercial real estate services to negotiate a deal on behalf of our client that ensured they received fair market value for this rare asset.”
Following the sale of 7300 West Side Avenue, Perkins, James and Todd, will be joinTom Vetter, SIOR and Jeff DeMagistris, SIOR as the new exclusive leasing brokers for the 130,000-square-foot building.
The sale of 7300 West Side Avenue marks Perkins’ and Todd’s second recent deal on the street as they negotiated the sale and leaseback of 7777 West Side Avenue in 2017.