NAI James E. Hanson, a New Jersey-based full-service independent commercial real estate firm, announces it has brokered the sale of a 24,795-square-foot industrial building in Rahway, to an undisclosed buyer relocating from Brooklyn, New York. NAI Hanson’s Barry Cohorsky and James Kenah represented the seller in the transaction.
The five-story industrial property located at 1296 Lawrence Street sits on more than half an acre directly off Routes 1&9 with excellent signage. The fully fire-sprinkled building boasts two loading docks, a 2,000-lb freight elevator and a private parking lot. The location, backed up to the Rahway River, offers excellent access to Routes 27, 9 and 287, The New Jersey Turnpike, The Garden State Parkway, the Newark Liberty International Airport and the Goethals Bridge.
“We have seen an exodus of industrial tenants and owners, fleeing from the exorbitant prices of real estate in Brooklyn and the other boroughs,” said Cohorsky. “Initially, these tenants were targeting the Meadowlands markets looking for less expensive properties, but as that market becomes tighter we expect more and more tenants and property owners to look at some of New Jersey’s more secondary and tertiary markets, with similar accessibility to the New York City population.”Related Articles: