NAI James E. Hanson secures buyer for 156,627 s/f ind. bldg.
Wayne, NJ — NAI James E. Hanson has negotiated the sale of a 156,627 s/f industrial building at 30 Corporate Dr. in Wayne. NAI James E. Hanson’s Michael Walters, SIOR, and Cameron Silverstein represented the seller, Robert Michael Associates, LLC, in the transaction with Forsgate Industrial Partners as the buyer.
Constructed in 1984, 30 Corporate Drive’s strategic location just miles from I-80 and Rtes. 23 and 46, the building’s combination of adaptability, structural integrity and accessibility made it a rare institutional-grade acquisition opportunity in the current industrial market. Recognizing the unique value proposition of the property, the building’s ownership greenlighted Team Walters and Silverstein to facilitate a sale of the building only under the condition that it was sold by year-end 2020. In addition to the tight timeframe, the building’s ownership had been located over 1,200 miles away in Naples, FL since the COVID-19 pandemic began and was unable to travel to New Jersey to oversee the sale. The ownership group entrusted Team Walters and Silverstein to serve as their on-the-ground presence to facilitate the speedy sale of the building.
“While the northern New Jersey industrial sales market continues to see tremendous demand coupled with a limited supply, challenges still exist with any transaction,” said Walters.