HREC arranges the sale of 2.5-acre development site
CARLSTADT, NJ — HREC Investment Advisors announced it has arranged the sale of the 2.5 acre parcel located in Carlstadt, proximate to the New Jersey Meadowlands Sport Complex. Kevin Hanley (senior vice president – Washington DC) and Ketan Patel (senior vice president – Washington DC) represented the seller, POKO Partners, predominantly multi-family residential developers, owners and operators in the tri state area, during the transaction. “This in-fill site is ideal to serve visitors to the Meadowlands area of Northern New Jersey. We identified attractive branding options and worked through issues to allow this existing warehouse/flex space property to be enhanced with a future development. Our local knowledge allowed us to quickly recognize the challenges and opportunities with this site,” said Hanley. Located within two miles of the Meadowlands Sport Complex, consisting of Met Life Stadium, Meadowlands Racing and Entertainment and the Izod Center, the site offers immediate access to these and other nearby demand generators. Situated near the intersection of New Jersey Rte. 17 and Paterson Plank Rd., the site also offers easy access to the significant office and industrial parks nearby and Teterboro Airport.