X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CLIFTON, NJ-NAI James E. Hanson is now in charge of finding tenants for 56,920 square feet of industrial/office flex space at 211 Mt. Prospect Ave. here. The single-story, 85,390-square-foot building is currently 33% occupied.

Spearheading the leasing effort for owner 211 Mt. Prospect Properties LLC are Jeffrey W. DeMagistris and Thomas A. Vetter, both associate vice presidents at NAI Hanson. Two units are available for lease: 42,460 square feet of industrial footage that has an additional 5,000 square feet of office space available and another 14,460-square-foot industrial unit that features 300 square feet of office accommodations.

According to Vetter, those units were both formerly occupied by a textile company. He tells GlobeSt.com that the space is being offered at $4.50 per square foot, net, which is below market. The building, built in 1949, has undergone an extensive renovation that made it suitable for multiple tenants. Upgrades included interior painting, resurfacing the parking lot and adding a loading dock. “The price makes it attractive,” Vetter says. “It’s a nicely finished building at below market rents.”

Vetter says the building is amenable to warehouse, distribution and manufacturing uses. He has talked to manufacturers about the building, but no deals as of yet.

Sitting on nearly four acres, the complex features 107 parking spaces, seven exterior tailgates, 16 to 20-foot ceiling heights, 4,000 amps, 1,600 volts, central air conditioning in the office areas, gas heat, concrete floors, 20 by 40-foot column spacing and easy access to the Garden State Parkway and Routes 3, 21 and 46. Other tenants in the property are All Seasons Moving, Eddie’s Cleaners and Safer Wet Printing.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.