NAI HANSON COMPLETES 6,800-SQUARE-FOOT INDUSTRIAL LEASE AGREEMENT IN BOONTON, N.J.
- NAI Hanson represents both landlord and tenant in Morris County land lease -

Hackensack, NJ, Feb 23, 2010 - /FLIERWIRE/-- NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, is pleased to announce the completion of a multi-year, 6,800-square-foot industrial lease agreement at 650 Myrtle Ave., in Boonton, N.J. NAI Hanson Vice President Sig Schorr and Sales Associate Joseph Vindigni represented the landlord, Henry Mola, while NAI Hanson Senior Vice President John Schilp represented the tenant, Arrow Trucking, in this transaction.

"Despite the challenging economy, there was an increase in activity throughout the Northern New Jersey industrial market during the fourth quarter of 2009," said Schorr. "This property is ideally located and affordably priced, so my colleagues and I were able to negotiate an attractive lease agreement for both the landlord and tenant, and we look forward to completing more transactions of this kind in the months to come."

The property lies on 2.5 acres of land that encompasses three buildings, as well as space to park trailers. The first building offers 700 square feet of office space and 3,720 square feet of industrial space with docks. A second building offers 3,600 square feet and two drive-in platforms. The third unit, a freestanding building, totals 4,100 square feet, plus two drive-ins. The building's amenities include 18-foot ceilings and the potential for redevelopment. Arrow Trucking is leasing 6,800 square feet and parking for 20 of their trailer. Situated immediately off Interstate 287, the property is also located within close proximity of Routes 46 and 202 and Interstate 80.

Arrow trucking will use the space, which lies on 2.5 acres of land that also encompasses three buildings ranging from 3,600 square feet to 4,420 square feet, as a trucking terminal. Situated immediately off Interstate 287, the property is also located within close proximity of Routes 46 and 202 and Interstate 80.

"Arrow called me looking for a new location, as its former lease, in Rockaway Township, was about to expire," Schilp explained. "Sig Schorr and Joseph Vindigni's listing in Boonton was a perfect fit. There is also the added bonus that 650 Myrtle Avenue is five minutes from home for Arrow's owner, making it much more convenient than Rockaway. Additionally, the owner of the property is a retired trucker and thus well understands Arrow Trucking's needs.

About NAI James E. Hanson
Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise.

NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with over 325 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company's Hackensack office at 201-488-5800 or visit www.naihanson.com.