NAI James E. Hanson announced it has brokered the sale of a 30,000-square-foot office building located at 215 14th Street in Jersey City. NAI Hanson’s Russell Verducci and Eric Demmers represented the buyer Adithya Bathena in the sale from MIS, which will lease back space in the building. MIS was represented by Dan DePalma of JLL.
The four-story professional office building features retail space on the ground floor which is currently leased to Dunkin’ Donuts. It’s premier location just off the Holland Tunnel in Jersey City’s vibrant downtown borders Hoboken and provides easy walking access to Newport PATH and Light Rail. Additionally, the property is less than 1 mile from Routes 1, 9, 78 and 3, is only minutes from Manhattan, and offers close proximity Newark Liberty International Airport and La Guardia Airport. 215 14th Street also provides visible signage from the Holland Tunnel and features ample parking, on-site security cameras in the lobby and exterior areas, a newer roof, and newer HVAC and gas systems.
“Originally the property was on the market for lease but we were able to negotiate for our client to buy the property since they were looking for an investment property near the Hudson waterfront,” said Verducci. “The seller will lease back space in the building and the new owner will look to lease up the building and potentially redevelop the property in the future. We continue to see strong activity and competition in the Jersey City marketplace and worked hard to negotiate this deal and pride ourselves on being able to provide our clients with creative solutions.”