Member News — NAI Hanson’s DeMagistris, Vetter, Negotiate Sale of 32,000-Square-Foot Industrial Building in Fair Lawn
October 11th, 2018
NAI James E. Hanson announces the sale of a 32,483-square-foot industrial building at 17-09 Zink Place in Fair Lawn, N.J. NAI Hanson’s team of Jeff DeMagistris, SIOR, and Tom Vetter, SIOR, represented the buyer, A Cubed LLC, in the transaction with BGL Properties.
Featuring five loading docks, 25’ ceilings throughout and ample parking, 17-09 Zink Place meets the needs for a range of industrial uses. The space is situated near Interstate 80 and Routes 17 and 46 and is ideal for a company that values proximity to distribution networks, offering easy accessibility to New York City, the Garden State Parkway and the New Jersey Turnpike.
Looking to relocate their operations from Wood Ridge, A Cubed LLC recognized 17-09 Zink Place’s adaptability and accessibility to both major highways and a strong labor pool as attractive features. The buyer plans to leverage the building’s prime location for the distribution of baseball caps.
“With so few industrial spaces available in this high-traffic distribution hub, businesses are recognizing the value in building ownership in this market,” said DeMagistris. “As demand outweighs supply for industrial assets, companies who opt to purchase in-demand properties like 17-09 Zink Place can secure a long-term home for their businesses, as well as a strategic investment that will likely gain substantial value over the long term.”