NAI Hanson Closes Deal on Sale of Flex Building in Randolph

On Apr 28, 2017

NAI James E. Hanson, a New Jersey-based full-service independent commercial real estate firm, announces it has brokered the sale of a 27,248-square-foot industrial/flex building located at 6 Aspen Drive in Randolph. NAI Hanson’s Barry Cohorsky, SIOR, Josh Levering, SIOR, and James Kenah represented the seller, Aspen-smith, LLC, in the transaction.

The buyer, RN Foster Associates, was represented by Nicholas DePaolera and Josh Levering, SIOR.  RN Foster is a HVAC contractor and will be relocating from their current location in Elmwood Park. A longtime customer of NAI Hanson, this acquisition is part of multiple transactions between the parties.

Built in 2009, 6 Aspen Drive is a single-story industrial/ flex building with 4,100 square feet of office space, six loading docks, 25’ clear foot ceilings and very ample truck and car parking. Located directly off Route 10, it offers easy access to Route 46 and is less than ten miles from Interstate 80. The building was originally acquired in 2010 by Modular Packaging as they were relocating from Fairfield with the assistance of Cohorsky and Levering.

The building will provide the buyer, R.N. Foster Associates, with the flexible space required to meet their current expansion needs.  RN Foster is currently using several smaller facilities in Elmwood Park and the ability to fulfill its national and international orders out of one building is key to the future of their business. They will be retrofitting the building completely and look to occupy sometime in the 2nd quarter of 2017.

“We continue to see a trend of businesses looking to purchase well-located, modern buildings to consolidate or expand their operations under one roof,” said Cohorsky.  “6 Aspen Drive’s premier location near I-80 and Routes 10 and 46 and its adaptability to a wide range of possible uses, meant that we were able to secure a number of interested parties when we initially began our marketing efforts. Our experience with this property and the market ensure that the transaction was closed under favorable conditions to all involved.”

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