A 4.6-acre redevelopment site in Bergen County has traded hands, NAI James E. Hanson announced recently, with the firm’s Team Perkins & Todd negotiating the deal on behalf of the buyer, Forsgate Industrial Partners.

Located at the intersection of Routes 3 and 17, 10 Politio Ave. in Lyndhurst offers access to both the Garden State Parkway, the New Jersey Turnpike, and Interstates 78 and 80. The site is also just over 1 mile away from Forsgate Industrial Partners Kingsland Meadowlands Industrial development site. That 3 million-square-foot venture, with Russo Development, sits on 718 acres.

According to NAI Hanson, Forsgate plans to evaluate a number of options for the redevelopment of 10 Polito Ave. to build upon the firm’s Meadowlands portfolio.

“Our deep roster of local contacts has always been at the heart of our ability to quickly close deals,” said Chris Todd in a statement. “When we found out that 10 Polito Ave. could be made available for purchase, we quickly recognized it as a perfect opportunity for a visionary developer such as Forsgate Industrial Partners that possessed the foresight and long-term strategy to realize its unique potential.”

“Identifying underutilized sites in premier locations with access to critical transportation networks has consistently allowed us to build high-quality buildings in high-quality locations over our long history,” added Jake Sutker, director at Forsgate Industrial Partners, “This acquisition exemplifies that approach, and we look forward to redeveloping the site to create long-term value for the community.”

Todd represented Forsgate along with Scott Perkins and William Ericksen. Financial terms of the deal were not disclosed.

According to NAI Hanson, Team Perkins & Todd was established in 2013, and since then has closed more than 90 industrial sales and leases spanning 3.8 million square feet and adding up to $330 million in value.