NEW JERSEY—NAI James E. Hanson has closed three industrial deals in northern New Jersey.
The transactions include:
• The sale of a 36,926-sq.-ft. site on behalf of the Stamato family. NAI Hanson represented the seller in its disposition of 164 Grand Street in Paterson. The buyer plans to redevelop the site, which offers convenient access to Route 80.
• The sale of a redevelopment site at 233-247 Van Houten Street in Paterson. NAI Hanson represented the seller, Eastern Capital L.L.C., which obtained the property through a foreclosure. The buyer, a developer for a discount chain, plans to convert the 22,000-sq.-ft. site to a retail building.
• The 17,790-sq.-ft. lease renewal at 1050 Valley Brook Avenue in Lyndhurst for Machioro USA Inc. NAI Hanson represented the tenant in the transaction.
NAI Hanson Sales Associate Louis Tapia completed all of the above transactions, working with Vice Presidents Thomas A. Vetter and Jeffrey DeMagistris on the 164 Grand Street deal.