Brokerage firm NAI James E. Hanson has sold two office condos in Flanders.
NAI Hanson’s Joseph Vindigni represented William Habermann, the seller and the buyer, Kiam & Abraham LLC in the sale of two office condos at 88 Bartley Flanders Road, Flanders.
“The seller recognized that current office environment made it the right time to sell these two spaces, which were an out-of-area investment,” Vindigni said. “The buyer was searching for a new space to continue to serve clients, and the property presented an undeniable opportunity in the right location for their business.”
Buyer Kiam & Abraham is a boutique law firm that specializes in immigration matters in New York and New Jersey. According to NAI Hanson, the firm plans to use one suite to operate and will continue to lease the other suite to an accounting firm.
NAI Hanson also announced a 1031 exchange of two flex buildings in Saddle Brook in a transaction in which Anthony Cassano represented the seller, and Kenneth Lundberg and Patrick Lennon represented the buyer. The properties -- 431 N.Midland Ave. and 435 N. Midland Ave. -- total 34,200 square feet.
“Amidst uncertainty in other investment sectors, commercial real estate -- particularly in Bergen County -- continues to provide unique flexibility to investors,” Cassano said. “Sellers have been able to attract a premium price for their assets if they feel the time is right for a sale.
435 Midland Ave. is comprised of 3,300 square feet of office space, 4,700 square feet of high-tech space and 2,200 square feet of warehouse space. The property totals 10,200 square feet, while 435 N. Midland is a 24,000-square-foot property with 4,000 square feet of office space.
The adjacent properties have easy access to the Garden State Parkway, I-80 and Routes 4, 17, 46 and 208.