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NAI Hanson Nets Bergen County Industrial Transactions

HACKENSACK, NJ-Roberts Street Realty and Priority Express are some of the newest additions to the Bergen County industrial market, picking up 15,000 square feet and 39,832 square feet, respectively.

By Alyson Grala | Updated on January 25, 2010

HACKENSACK, NJ-NAI James E. Hanson recently inked two industrial transactions in New Jersey’s Bergen County submarket: the sale of a 15,000-square-foot industrial condo at 10 Malcolm Ave. in Teterboro to Roberts Street Realty LLC, and a 39,832-square-foot Priority Express lease at 472 Barell Ave. in Carlstadt. NAI Hanson associate vice presidents Thomas Vetter and Jeffrey DeMagistris represented the respective landlords, Malcolm Associates LLC and R.J. Purcell Associates.

“Tenants and buyers are in the driver’s seat in the Northern New Jersey industrial market, as in other markets and sectors nationwide, forcing landlords to get creative with their marketing and buyer incentives,” Vetter tells GlobeSt.com. “Both Malcolm Associates and R.J. Purcell priced their spaces appropriately, which enticed the prospective tenant and purchaser to move forward with these transactions during these trying times.”

While the parties involved would not reveal the sale price or rental rates, Cushman & Wakefield lists the average industrial lease price in Bergen County at around $6.50.

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