News: Front Section
Posted: July 7, 2011
Lundberg of NAI James E. Hanson brokers 38,500 s/f, $3.32 million sale
Mahwah NJ NAI James E. Hanson represented the seller in a transaction for 500 Corporate Dr. The 38,500 s/f property, situated on a 5.7 acre lot, traded for $3.32 million.
The industrial/ flex facility features 15,500 s/f of warehouse space; 10,500 s/f for flex/assembly space; and 12,500 s/f for office use. The site boasts a 17-foot ceiling height, three tailgates, one drive-in, and 65 parking spaces. Located within a corporate park just off Rte. 17. 500 Corporate Dr. is approximately 1.5 miles from the interchange of Rtes. 17/ 287 and 87.
NAI James E. Hanson senior vice president Kenneth Lundberg, SIOR, represented the seller, MSS Associates, LLC. Mark Siegler and Marc Hirschinger of Cassidy Turley represented the buyer, ARC Global Holdings, LLC t/a Globalsoft Digital Solutions, Inc.
"A big selling factor was that 500 Corporate Drive has flex space for this flourishing business to expand," said Lundberg. "The site is well located, close to major roadways, and also within a low tax municipality providing additional savings to the new owner."
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