The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2.5 billion, has announced the sale of a 45,313 square-foot industrial building located at 530 Huyler Street in Hackensack, N.J. The sale was made to the Park Avenue Motor Corp. Inc., who have occupied the building since 2006.
The 45,313 square-foot industrial building spans across three and a half acres of land and is conveniently located less than ten miles from New York City. In 2009, the building was fully renovated into an automobile service facility that features custom amenities such as ceiling heights as high as 16-feet, 4 grade level overhead doors, 47 lifts, a customer lounge and office space.
“Since the building was completely renovated to fit the exact needs of Park Avenue Motor Corp. Inc, they saw this as an excellent opportunity to purchase the property which allowed Hampshire to achieve its return objective,” said Igor Derbaremdiker, Senior Investment Manager for The Hampshire Companies. “The property’s location in an established, high-traffic area within the New York metropolitan area has been a proven success to the buyer over its time as a tenant.”
Located within minutes of I-95, I-80, Routes 46, 3, and 17 and the George Washington Bridge the facility is ideally situated in Bergen County’s premier industrial marketplace.
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at HampshireRE.com.
R&J Public Relations