Located at 460 and 480 Route 46 West, the fully leased buildings total more than 17,500 square feet. NAI Hanson's associate VP Anthony J. Cassano represented the seller, the estate of Hans Wertheimer, and the buyers in both transactions.
The 12,500-square-foot property at 460 Route 46 West was sold to Dr. Robert Yang and is currently being utilized as retail and office space for Syntec Technical School. The second property at 480 Route 46 West spans 5,000 square feet and is currently being used as a retail space for Marcone Appliance Parts. It was purchased by David Haziza.
"These transactions are representative of the opportunities that can abound in a down market, where a local investor has enough available capital to purchase well-located properties, at competitive price points, allowing for both immediate and future returns on the investment," said Cassano in a statement.
Adjacent to Teterboro Airport, the properties offer access to Interstates 80 and 90 and New York City. The stretch of highway is well traveled, with more than 45,000 passing daily, according to NAI Hanson.
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