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  • Writer's pictureMAREJ

NAI Hanson’s Sauerborn negotiates 41,000s/f whse. sale

Little Ferry, NJ — NAI James E. Hanson completed the sale of a vacant 41,000 s/f warehouse at 200 Liberty St. in Little Ferry. The sale will enable CVS Pharmacy to construct a 15,655 s/f store at the location. NAI Hanson’s Gary Sauerborn represented the seller, Liberty Street Realty in the transaction. The redevelopment site at 200 Liberty St. offered CVS the ideal combination of accessibility, visibility, and population density that CVS looks for in redevelopment opportunities. “When marketing a property like this, it is important for the broker to think outside of the box in terms of

future uses,” said Sauerborn. “Although the zoning and construction at this site made continued industrial tenancy seem like the most opportunistic usage, we recognized that the location and accessibility made for a perfect opportunity for a retail operator. This recognition enabled us to properly market the site and negotiate a deal a prime purchase price in line with fair market value for an asset of this type.”

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