NAI Hanson arranges the $2.75m sale of two retail buildings in Paramus, New Jersey
PARAMUS, NJ — NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, announced it has arranged the sale of 144 and 148 Rte. 4 East located in Paramus. Totaling 7,700 s/f and sitting on a 34,023 s/f lot contiguous to Bergen Town Center, the properties are both highly visible retail locations.
Dominic Fittizzi, associate vice president of NAI Hanson represented the seller, Meyn Trust and the buyer, Urban Edge Properties in the sale. The buyer plans to use the building as a short-term investment.
Both buildings are currently fully leased- Cleopatra Tile & Bath occupies the 3,175 s/f building located at 144 Rte. 4 East, while Paramus Furniture and Dinettes occupies the 4,526 s/f building located at 148 Rte. 4 East. The property is also located near Rte. 17, Rte. 208 and the Garden State Parkway.
Dominic Fittizzi said, “The properties offered a unique opportunity for investors. Both retail buildings are highly visible and located in one of the busiest retail corridors in New Jersey with easy access to the main highways in the area.”
NAI Hanson provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise.