Trasco Realty Acquires Property At 140 Legrand Ave Northvale For $7.4M With Andrew Somple As Seller's Representative

The property asset involved in the transaction is an industrial/flex building located at 140 Legrand Ave, Northvale, NJ, with a transaction value of $7,400,000.00. The building has a total area of 82,524 square feet and features amenities such as 10,000 square feet of office space, 18-foot ceiling heights, six loading docks, two tailgates, and 60 parking spaces. It was constructed in 1969 and is currently fully occupied by Abon Pharmaceuticals.

Summary of transaction details:

• Property Type: Industrial/Flex Building
• Transaction Amount: $7,400,000.00
• Address: 140 Legrand Ave, Northvale, NJ, 07647
• Market: Northvale
• Buyer: Trasco Realty
• Seller's Representative: Andrew Somple - NAI James E. Hanson
• Year Built: 1969
• Loan Amount: $3,700,000.00

NAI James E. Hanson Senior Vice President Andrew Somple and Executive Managing Director Michael Walters were involved in representing the seller during this transaction. The sale was supported by a loan from commercial real estate financing company Liberty SBF. The Hampshire Cos. announced this sale, stating their investment strategy focuses on strategic dispositions of well-positioned assets in strong markets.