NAI James E. Hanson Acquires the Garibaldi Group and NAI Summit

NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, has expanded its regional footprint through the acquisition of The Garibaldi Group (TGG), a full-service CRE company with more than 100 years of experience, and NAI Summit, eastern Pennsylvania’s premier full-service commercial real estate firm.

NAI James E. Hanson’s President William C. Hanson, SIOR, will now serve as president of the three companies. TGG will relocate its offices from Chatham to NAI James E. Hanson’s Parsippany office at 10 Lanidex Plaza West. NAI Summit will continue to operate under its name and out of its office at 1620 Pond Road in Allentown, Pa. Together NAI James E. Hanson, TGG and NAI Summit will now total over 100 team members and over 10 million square feet of properties under management.

“This is very exciting. Our families have multi-generational relationships. We have similar cultures and values that make this feel like a natural fit,” said Hanson. “Our acquisition of The Garibaldi Group and NAI Summit will strengthen our geographic reach across New Jersey and Pennsylvania, deepen our presence and reinforce our expertise in important asset classes. We are thrilled to welcome The Garibaldi Group and NAI Summit to the NAI James E. Hanson team and look forward to leveraging our combined strengths to deliver an unmatched level of service to our clients.”

Founded in 1919 in Hoboken, TGG is now in the fourth generation of Garibaldi family leadership. With a long history of servicing recognizable corporate clients such as Bristol-Myers Squibb, Prudential, and Honeywell, the firm has established itself as a boutique brokerage house with impressive reach, conducting high level transactions across the country and even the globe.

TGG acquired NAI Summit in 2021. Led by Managing Partner Jeffrey Garibaldi, Jr., NAI Summit’s team boasts four decades of experience in acquisitions, dispositions, and leasing, particularly within the industrial sector. In addition, NAI Summit’s property management division currently manages over three million square feet of commercial space across the region. Together, TGG and NAI Summit employ 14 brokers and over 40 support staff. Jeffrey Garibaldi Jr. will remain in his role as managing partner of NAI Summit and continue to oversee day-to-day operations in collaboration with William C. Hanson.

“The roots of this transaction trace back to our acquisition of NAI Summit, combined with our family’s more than 50-year relationship with the Hansons. This key strategic move will enable us to join forces in the northern New Jersey market to deliver an unmatched commercial real estate services experience to businesses of all sizes,” added Jeffrey Garibaldi, Jr., managing partner of NAI Summit.

Jeffrey Garibaldi, Sr., CEO of TGG, continued, “As a multigenerational family business, we saw a natural alignment with NAI James E. Hanson’s values and vision. This partnership represents a unique opportunity to combine our deep expertise and longstanding relationships to build one of the region’s most comprehensive and dynamic commercial real estate services platforms. We are excited to work together to continue to deliver innovative solutions and exceptional results for our clients.”

John Cromie and Amanda Kelly of Connell Foley LLP provided legal services and Kevin Collins of Aprio Advisory Group LLP served as the accountant for the transaction on behalf of NAI James E. Hanson. James DiGuilio and Michael Dee of O’Toole Scrivo provided legal services and Michael Zone of Weisman & Co. served as the accountants for the transaction on behalf of The Garibaldi Group and NAI Summit.

To access more business news, visit NJB News Now.

Poll: Most New Jerseyans Support State Liquor Law Reforms

NJIT Launches New Office of Corporate Engagement

Retired Federal Judge Noel Hillman to Lead Gibbons’s ADR Practice