Industrial 59 Oak Street Sold to Private Investor

The Hampshire Companies announced this week that it had sold 59 Oak Street in Hackensack, N.J. to a local private investor. The terms of the deal were not disclosed, but it was noted that Tom Vetter and Jeff DeMagistris of NAI James E. Hanson represented both Hampshire and the buyer in the transaction.

"The building's location within Central Bergen County with immediate access to Route 4 has made this a strategic location for small bay users in the market," said Michael Harrington, an investment manager for The Hampshire Companies. "The buyer of this property will benefit from the in place tenancy as well as the ability to utilize future available space for their various business interests."

Built in 1973, the 25,000 square foot multi-tenant industrial building was fully leased at the time of sale to five industrial users. The Hampshire Companies noted that the property's close proximity to the George Washington Bridge provides tenants with both a New Jersey and New York presence.

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