NAI James E. Hanson closes two industrial sales in Northern and Central New Jersey

Verducci, Demmers, Somple, Schilp, and Curry represented the seller in the transactions

Hillside, NJ — NAI James E. Hanson completed two recent industrial sales in New Jersey totaling 32,533 s/f.

NAI James E. Hanson negotiated the $4.35 million sale of a 1.2-acre industrial outdoor storage (IOS) property, located at 138 Rte. 22 East in Hillside to PSE&G. Senior VPs Russell Verducci, SIOR, and Eric Demmers represented the private seller in the transaction.

Situated just three miles from Newark Liberty International Airport, the site features a 15,677 s/f industrial building, a 2,192 s/f shed, and ample on-site parking. PSE&G plans to reposition the property as an expansion of its substation located at an adjacent property to provide enhanced electricity distribution services across the region.

“The IOS market continues to show strength with infrastructure companies like PSE&G driving much of the activity,” Verducci said. “We’re pleased to have helped our client capitalize on the value of their property while helping to support regional infrastructure expansion.”

Demmers added, “Utility and infrastructure users require sites that provide scale and strategic connectivity. This property does both, allowing PSE&G to expand critical operations while the seller secured a strong return for the asset.”

NAI James E. Hanson negotiated the sale of a 14,664 s/f industrial flex building located at 50 Hollister Rd. in Teterboro. Senior VPs Andrew Somple, SIOR and John J. Schilp and, associate Jessica Curry, CCIM, represented the seller, 50 Hollister LLC, in the transaction with the buyer, S Platform Logistics LLC (S-Platform).

Situated on 0.57 acres within Bergen County’s established business corridor, the single-story property is zoned light industrial, allowing a wide range of commercial and business uses. The building blends warehouse functionality with office capabilities and features 17’ clear ceiling heights, two tailgate loading docks, 25 surface parking spaces, and a fully monitored wet sprinkler system throughout.

50 Hollister Rd. offers exceptional regional connectivity with proximity to Teterboro Airport and convenient access to Rtes. 46 and 17, I-80, and the New Jersey Tpke. The property is also served by NJ Transit bus and rail service and is located 10 miles from the Lincoln Tunnel, providing accessibility to NYC.

“Industrial assets that offer strong infrastructure, efficient layouts, and proximity to major transportation hubs continue to attract significant interest,” said Curry. “50 Hollister Road’s functionality and location made it an attractive opportunity in a highly competitive submarket.”

Somple added, “Well-located industrial properties in Teterboro remain in limited supply, and this transaction reflects continued demand from buyers seeking flexibility, access, and long-term value.”