NAI James E. Hanson said Wednesday it sold a 16,000-square-foot industrial/flex building at 55-57 Bushes Lane in Elmwood Park.
NAI Hanson’s Josh Levering and Nick DePaolera represented the seller, RN Foster Associates LLC, and Mission Realty represented the buyer, Bushes Lane Realty Corp.
The sale of 55-57 Bushes Lane is the latest transaction negotiated by NAI Hanson on behalf of RN Foster Associates, with which Hanson has had a long-standing relationship that extends more than two decades.
Levering and his team have negotiated numerous deals on behalf of the client over the years.
In addition to 55-57 Bushes Lane, they previously negotiated acquisitions, leasing and then sales of two other office/flex properties within the three-building portfolio owned by RN Foster Associates—all located on Bushes Lane in Elmwood Park.
“55-57 Bushes Lane is a 16,000-square-foot first-class, free-standing, flex warehouse and manufacturing building situated on 0.70 acres,” Levering said. “Included was about 3,500 square feet of first-class office space that was fully renovated in 2015. Building features include platform loading with drive-in capabilities, ample parking, air conditioning throughout and very heavy power.
“Bushes Lane is an ideal park-type setting that includes other businesses including hi-tech, pharma, construction and other alike businesses. The location is great as it provides immediate access to Routes 80, 46, 21 and 208 as well as the Garden State Parkway.”
DePaolera added: “Our team was able to deliver once again on behalf of our client and close on this fairly complicated transaction. Consistency has been key and we along with our client are very pleased with the outcome.”