WALDWICK, NJ-NAI James E. Hanson has handled the sale of a 10-are athletic complex here to HFZ Partners.
NAI Hanson's Hal Messer and Dominic Fittizzi represented Splash Park, the seller, in the trade of the property at 140 Hopper Avenue for an undisclosed price.
The four-buildings complex has 145,465 square feet, occupied by 13 tenants that specializing mostly in athletic training and sports equipment sales.
“The buyer made an excellent investment with the purchase of this property, essentially acquiring a stream of income,” Fittizzi said. “This complex has a 100% occupancy rate and all tenants have long-term leases.”
The broker said the northern Bergen County location of the property particularly appealed to the buyer.
“This is an affluent area that produces a high number of successful amateur and professional athletes, making this deal low-risk and high-reward,” he said.
“Furthermore, the new owner now possesses ten acres of prime real estate in Bergen County that can be repurposed in ten or 20 years for any number of things,” Fittizzi added.
Current tenants include:
- Unlimited Sports LLC, operator of Superdome Sports, which caters to local school sports teams, clinics and leagues
- The Learning Experience, which provides daycare/preschool to children six weeks to five years old
- Greenhouse Golf, offering indoor golf activities
- Hoop Heaven, an air conditioned basketball facility
- Excel Orthopedic Rehabilitation, offering physical therapies post-surgery or injury
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