Member News — NAI Hanson Negotiates Sale of Industrial/Flex Building in Blairstown
January 3rd, 2019
NAI James E. Hanson, a leading New Jersey based full-service independent commercial real estate firm, announces it has negotiated the sale of a 15,070-square-foot industrial/flex building at 126 Route 94 in Blairstown, N.J. NAI James E. Hanson’s Joseph Vindigni represented the seller, L&W Supply Corporation, and the buyer, Khalil Alijla LLC, in the transaction.
126 Route 94 is a 15,070-square-foot industrial/flex building which includes 2,000 square feet of dedicated office space. With 16-26’ ceilings, four 14’ drive-ins with overhead doors as well as parking for 30 cars, 126 Route 94 offers ample space, flexibility and functionality suitable for a range of industrial users. The property’s proximity to Route 80 between Exits 12 and 14 will allow Khalil Alijla LLC, a refrigeration assembly and distribution company, to expand its Staten Island-based business to better service clients in northwest New Jersey and Pennsylvania.
“With demand three times the supply in New Jersey’s hottest industrial markets, we’re noticing a shift to secondary markets in the north and west which offer affordable yet well-located industrial space along major corridors like Route 80,” said Vindigni. “Khalil Alijla LLC recognized these attributes in 126 Route 94 and found the property ideal to support its continued growth. Tapping into our experience in northern New Jersey industrial markets, we were able to negotiate a deal that reflected a fair market value on behalf of both parties.”