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601 Lehigh AveUnion, NJ 07083
601 Lehigh
Asset ClassIndustrial
overview of deal

Overview

NAI James E. Hanson (“NAI”), a licensed real estate brokerage firm, has been exclusively retained to market 601 Lehigh Avenue (the “Property”) for sale. The Property features a fully renovated 160,000-square-foot fleet maintenance and transportation facility situated on 7.6 acres. The Property is leased to Easton Coach, a leading provider of passenger transportation services, which has invested nearly $6.0 million, combined with $2.6 million from the landlord, in capital improvements to enhance operational efficiency and reliability. Easton Coach occupies the Property under a government contract with the state of New Jersey through October 2030, with an option to extend the term for an additional five to seven years coterminous with renewal of Tenant’s underlying New Jersey Transit contract.

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Investment Highlights

  • Strong, Reliable Cash Flow Driven by Tenant's Multi-Million-Dollar Investment
  • Resilient Port-Centric Submarket with Strong Underlying Fundamentals
  • Continued Expansion of Fleet Parking Supported by High Tenant Demand
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601 Lehigh AveUnion, NJ 07083
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