NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate (CRE) firm, has negotiated the $8.74 million sale of a 3.35-acre industrial property located at 8 Evans St. in Fairfield, New Jersey.
NAI James E. Hanson’s Michael G. Walters, SIOR, Executive Managing Director, Corporate Services, and Cameron Silverstein, Associate Vice President, represented the seller, Anderson and Vreeland Realty Co., in the transaction with the buyer, KF Mechanical, LLC.
Location, Location, Location
Situated just off Route 46, with seamless access to Interstates 80 and 280, the Evans Street property comprises a 28,000-square-foot warehouse facility supported by valuable industrial outdoor storage (IOS).
Its immediate highway access, flexible layout, and outdoor storage component positioned the asset as one of the most functional and desirable offerings in the Fairfield industrial submarket.
“Our client was in a strong position given the unique utility and location of the asset,” said Walters. “Properties like 8 Evans Street rarely come to market, and that scarcity helped drive a highly competitive process among qualified buyers.”
“Properties like 8 Evans Street
Michael G. Walters, SIOR, Executive Managing Director, Corporate Services, NAI Hanson
rarely come to market.”
After securing the listing, the Hanson team executed a targeted marketing strategy aimed at both institutional groups and active owner-users throughout the region.
“Sustained rent growth within institutionally owned industrial assets continues to push more operators toward ownership as a strategic alternative,” said Silverstein. “The response we received to this listing underscores just how strong owner-user demand is for well-located, highly functional properties like 8 Evans Street.”
Growth of Rt 46 Corridor
The transaction highlights the continued strength of the Route 46 corridor, where limited industrial supply and rising rents are accelerating demand from owner-users seeking long-term real estate solutions.
Industrial Outdoor Storage
📈A hot asset class due to demand and limited supply, says NAI James E. Hanson.
📈Large parcels (acre+) zoned for industrial use.
📈Used for storing equipment, vehicles, containers, materials, etc., not requiring an enclosed space.
About James E. Hanson
NAI James E. Hanson is a prominent New Jersey commercial real estate firm heavily involved in the booming Industrial Outdoor Storage (IOS) market, brokering significant deals for sites in South Plainfield, Kenilworth, and larger portfolios in areas like Harrison/Kearny.
They connect investors with ideal locations for storing equipment and vehicles due to high demand, tight supply, and strategic highway access (e.g., I-287, I-80, and the NJ Turnpike). They identify and facilitate acquisitions of land zoned for industrial use, serving institutional investors and businesses seeking versatile storage solutions in a competitive market.
Key Aspects of NAI Hanson’s IOS Work
- Market Expertise: Strong understanding of Northern New Jersey’s industrial market, identifying opportunities where properties meet specific investment strategies.
- Significant Transactions: Brokered the $33.25M sale of an 8.84-acre IOS site in South Plainfield and a $3.3M sale of a 1.28-acre site in Kenilworth, among others, notes.
- Key Personnel: Team members like Scott Perkins, Christopher Todd, and William Ericksen are active in closing large IOS deals.
- Strategic Locations: Focus on properties near major transportation arteries (I-287, GSP, NJ Turnpike) for superior connectivity.
- Investor Focus: Represents major players like Oliver Street Capital and Bain Capital, catering to institutional demand for IOS assets.
To stay connected with NAI James E. Hanson and for updates on the latest transactions and news, please follow NAI Hanson on Facebook, X and LinkedIn.
