Alexander Anderson sees opportunity in incubator space

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Alexander Anderson sees opportunity in incubator space

By Mario Marroquin, May 2, 2017 at 12:55 PM

Alexander Anderson Real Estate Group's incubator space in Pompton Lakes.

Alexander Anderson Real Estate Group’s incubator space in Pompton Lakes. – (ALEXANDER ANDERSON REAL ESTATE GROUP)

 

For Eric Anderson, the CEO of Alexander Anderson Real Estate Group, there is an unmet demand for affordable space for entrepreneurs.

“There is a shortage of opportunity for small businesses, and there’s a shortage of opportunity for businesses that are looking to expand that aren’t ready to commit to long-term leasing strategies because they don’t know what their market is going to be,” he said. “They don’t want to short-change themselves by entering a smaller lease.”

Marketing properties as incubator spaces, such as 200 Wanaque Ave. in Pompton Lakes, gives landlords the opportunity to begin to meet that unmet demand with plenty of flexibility to its tenants, according to Anderson.

“Because the leases are much shorter term, we can slowly bump things up as the space gets more popular,” Eric Anderson said. “We’ve done smaller incubator-type spaces in Hackensack and Jersey City, very small-scale, and in those, where there is less space, we can actually turn a higher dollar return for the owner. In this case, it was just so big that we had to go out on a lower basis.”

The property is a 30,000-square-foot Class B office building in an area with a 12.3 percent vacancy rate. And in the three months Alexander Anderson has marketed the property, Mary Kay Cosmetics, Kubisys and Prime Time Toys have leased about a third, 10,000 square feet.

“We took a business incubator space that we didn’t know what direction, like a tech incubator or a small business incubator or a party-type incubator, and now we have two new clients that are going to be entertainment-related,” Anderson said. “Maybe that will lead to more kids-type incubator option spaces there.”

Having tenants like Mary Kay Cosmetics at the property, according to Anderson, is also beneficial in that it gives the property exposure to individuals who may require office space for their own business.

“What’s great about Mary Kay is that it brings a lot of entrepreneurial-spirited people because most of the Mary Kay people, at least from my understanding, do multiple businesses, so that opens us up to other tenants in that area,” He said.

The company said it hopes to have 60 percent of the space leased by September, but it recognizes that full occupancy may not be achieved because of the nature of the space, where tenants may be constantly moving.

A conference room at the Pompton Lakes incubator space.

A conference room at the Pompton Lakes incubator space. – (ALEXANDER ANDERSON REAL ESTATE GROUP)

Tenants at Pompton Lakes are able to lease 525 to 6,000 square feet.  Amenities for the spaces include an exterior lounge, a data center and a shared conference room.

But while Anderson thinks marketing available properties as incubator spaces can be a solution for landlords in areas with slow markets, he also acknowledge that this may not be a solution that works everywhere or for every property.

“In New York City, you can do a lot bigger space,” He said. “It may take time to fill up, but it will definitely fill up, whereas Hudson or Bergen counties, or Essex or Passaic, it really depends on the business environment in those areas. I think Hudson, let’s say, Jersey City or Hackensack, it will probably do better.

“It’s based on population and the environment the building is in. If you’re out in Sparta, it’s not going to work. You have to have people around.”

Following its success in both Hackensack and Jersey City, the firm is considering whether to market 4,200 square feet in Newark as incubator space.

“One of the nice things about incubator spaces, it’s kind of like a farm for new tenants,” Anderson said. “We’re cultivating relationships with tenants and new relationships that are, hopefully, going to grow and spring into bigger projects and feed off of each other, and look for bigger and better spaces. Hopefully, we’ll be the ones helping them to go in that direction.”

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This North Jersey city is in midst of renaissance, loft developer says

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This North Jersey city is in midst of renaissance, loft developer says

By Fausto Giovanny Pinto March 01, 2017

HACKENSACK — A Brooklyn developer plans to turn a warehouse once used for record storage into loft-style apartments.

Minotaur Management purchased 17 Mercer Street last month for $1.275 million, according to a press release.

The developer said the burgeoning city resembles the Brooklyn neighborhood of Bushwick before the real estate craze hit the area.

“We hope to realize the same kind of success in Hackensack that we had in redeveloping multifamily properties in the Bushwick section of Brooklyn just as that area began its renaissance,” Minotaur Management CEO Eli Davidovics said in a statement. “We already see some of the same trends and initiatives here and we are very excited to be part of that kind of change once again.”

A rally held in front of the Bergen County Courthouse against the repeal of the Affordable Care Act drew a large crowd Saturday.

The former Hackensack city property was built in the 1800’s and will be converted into an apartment building with than 30 loft-style apartments.

The New York-based real estate developer also placed a $125,000 note on the property next door, 21 Mercer Street, which currently houses a restaurant.

Alexander Anderson Real Estate Group, which represented the buyer and seller in the deal, said the sale represents the change coming to Hackensack.

The Mercer Street buildings are located within Hackensack’s special improvement district, which has a number of developments underway.

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Hackensack building to be redeveloped as apartments

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Hackensack building to be redeveloped as apartments

By Kathleen Lynn on January 20th

 

A 19th-century warehouse in downtown Hackensack has been sold to a developer that plans to turn the building into about 30 loft-style apartments.

Minotaur Management of Hackensack paid $1.275 million for the building, at 17 Mercer St. The deal is the first multifamily investment in New Jersey for Minotaur, which has developed properties in the white-hot Bushwick section of Brooklyn.

“I love the idea of taking over beautiful old buildings and repurposing them,” said Minotaur’s chief executive officer, Eli Davidovics of Teaneck.  The project will probably take about two years, he said, adding that it’s too early to estimate how much the work will cost or how much the apartments might rent for.

The property, which is currently used to store documents, was sold by members of the Lettieri family, who ran Colonial Moving and Storage there for decades, according to Eric Anderson of the Alexander Anderson Real Estate Group in Hackensack, who represented both buyer and seller in the deal. Anderson said he recognized the potential to redevelop the building into apartments and brought the idea to Davidovics. “I thought, ‘What a great building to convert into lofts,’ ” he said. Storage, he added, “is not the highest and best use for this building.”

The 20,000-square-foot, four-story property is in Hackensack’s rehabilitation area, which town officials created as part of an effort to encourage redevelopment of a tired downtown that was once a commercial center for Bergen County. A number of projects, expected to bring hundreds of apartments to the downtown area, are planned or are underway.

Being in the rehabilitation zone streamlines the building-approval process. “If you know the city is supportive, and you have an idea what’s permitted, it’s much easier,” Davidovics said.

Minotaur also bought a $125,000 note on the neighboring property, at 21 Mercer St., which houses a restaurant.

 

Published 1/6/17

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The remaking of Hackensack’s downtown is in full swing

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The remaking of Hackensack’s downtown is in full swing

By Myles Ma on January 18th

 

The city has approved four projects totaling 456 residential units and 11,000 square feet of retail space that are expected to break ground this year, city spokesman Phil Swibinski said.

Hackensack has pushed to redevelop its downtown for more than a decade, but the real work started in 2015 when construction started on the Meridia Metro project on State Street. The developer, Capodagli, now plans another building at 240 Main St. at the current headquarters of Greater Bergen Community Action Partnership.

The city approved 106 residential units and 4,000 square feet of retail space at the site.

Around the corner, the Oritani Field Club, shuttered since 2015, will make way for another 254 apartments built by Hekemian & Co.

 

Amazon to open Paramus bookstore

Garden State Plaza is one of five locations where Amazon plans to open brick-and-mortar bookstores.

 Farther south, developer Abergel plans to convert a discount department store at 149 Main St. into 72 apartments and 3,000 square feet of retail. The building sits across from the largest project in the redevelopment: Alkova’s planned 14-story residential building.

The work on the Alkova project clanged across downtown Hackensack in much of 2016 as the company drove piles. The work has stalled recently, but is expected to continue this year.

Finally, Alexander Anderson, a Hackensack real estate developer, plans to turn 76 Main St., which burned down in 2015, into a new building with 24 apartments, 4,000 square feet of retail and a public plaza. The Hackensack Upper Main Alliance put up a fence around the lot to feature work by local artists.

Eric Anderson, CEO of Alexander Anderson, said his company is also moving forward with three other projects around the downtown. Anderson expects 2017 to be even busier in terms of construction than 2016, when six projects, totaling 748 units and 53,500 square feet of retail, were under construction.

In all, Swibinski said, Hackensack has 2,200 new residential units either approved or under construction in the downtown and nearly 140,000 square feet of retail space. Work is also underway on the new Hackensack Performing Arts Center in a former Masonic Lodge.

 

Myles Ma may be reached at mma@njadvancemedia.com. Follow him on Twitter @MylesMaNJ. Find NJ.com on Facebook.

 

Published 1/6/17

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Alexander Anderson Real Estate Establishes Syndication Arm

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Alexander Anderson Real Estate Establishes Syndication Arm

BY  January 18, 2017

 

Alexander Anderson Real Estate Group has launched Alexander Anderson Capital Group, a real estate syndication arm, to sponsor, acquire and redevelop projects in downtown areas that are undergoing a revitalization in conjunction with small or individual real estate investors.

As part of the launch, Alexander Anderson Capital Group has announced it has closed on two syndicated real estate transactions for projects in Hackensack, and Newark, NJ.

Real estate syndication allows investors with a common purpose or vision to pool capital to invest in real property. As the sponsor or syndicator, Alexander Anderson Capital Group finds, acquires (including obtaining the needed financing) and manages the real estate itself.

According to Eric Anderson, CEO of Alexander Anderson, “Through Alexander Anderson Capital Group, we can bring the same out-of-the-box vision for redevelopment, extensive real estate investment expertise and management experience to the small investor, who might always have been interested in real estate but lacked the sufficient capital, knowledge or experience.

“Alexander Anderson Capital Group now affords them access to deal flow and an opportunity to invest with professional development and management experience supporting their investment.

“At the same time, our new Capital Group can help clients that might not otherwise have been able to sell their struggling or vacant property because it was not purposed in the right way or for sale,” he added.

Alexander Anderson Capital Group most recently closed on a $300,000 transaction for a 6,500 s/f vacant office building  at 277 Halsey Street in Downtown Newark’s business improvement district.

Alexander Anderson will convert the vacant structure into new loft-style office space.

The group also closed on a $395,000 transaction for a three-story commercial office building at 5 Atlantic Street in Hackensack, NJ, next to a new Performing Arts Center.

Alexander Anderson plans to redevelop the property to feature a bistro on the ground floor and two two-bedroom apartment units on floors two and three.

Published 1/6/17

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Syndication group finds first deals in Essex, Bergen counties

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Syndication group finds first deals in Essex, Bergen counties

By Joshua Burd January 6, 2017

 

The newly formed syndication arm of an area real estate firm has made its first two deals, closing on vacant office buildings in Newark and Hackensack that it now plans to reposition.

The firm, Alexander Anderson Real Estate Group, announced that it has launched an entity known as Alexander Anderson Capital Group. The Hackensack-based organization’s goal is to sponsor, acquire and redevelop projects in downtown areas that are undergoing a revitalization in conjunction with small or individual real estate investors.

 

Its first two transaction include a $300,000 acquisition of a 6,500-square-foot office building in downtown Newark. Alexander Anderson now plans to convert the vacant structure at 277 Halsey St. into new loft-style office space.

 

Eric Anderson, the firm’s CEO, said it has already inked one lease and “(expects) to see a lot of interest in this unique property from potential tenants such as technology firms, startups and artists.”

 

In its home city of Hackensack, Alexander Anderson has closed on the $395,000 purchase of a three-story commercial office building at 5 Atlantic St. The 3,600-square-foot property, which is located next to Hackensack’s new performing arts center, has been vacant for the last two years, and Alexander Anderson plans to redevelop the property into a street-level bistro with two two-bedroom apartment units on the upper floors.

 

Anderson, whose firm will serve as the property manager for 5 Atlantic St., said the project “is the latest example of how we like to look for creative ways to repurpose idle or empty space to create value not only for the former owner, but our investors and the surrounding neighborhood in Hackensack.”

 

Over the long term, the platform will target small investors “who might always have been interested in real estate but lacked the sufficient capital, knowledge or experience” to get involved in the industry, he said. The capital group is also geared toward helping clients “that might not otherwise have been able to sell their struggling or vacant property because it was not purposed in the right way or for sale.”

 

“It’s very exciting to be able to work alongside a group of investors for the benefit of owners interested in selling their unused property and for the betterment of their communities,” Anderson said. “It really is a win-win-win situation.”

 

He alluded to another area where the firm is seeking opportunities, noting that it recently opened a Hudson County office “with an eye toward redevelopment in Journal Square and the surrounding area.”

 

Published 1/6/17

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Alexander Anderson Capital Group to redevelop downtown properties

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Alexander Anderson starts Capital Group to redevelop downtown properties

By Mario Marroquin, January 4, 2017 at 11:27 AM

Alexander Anderson Real Estate Group announced recently the launching of Alexander Anderson Capital Group, a syndication arm aimed to sponsor, acquire and redevelop downtown areas alongside small and individual real estate investors.

The capital group also announced the closing of two projects in Hackensack and Newark.

A 6,500-square-foot property in downtown Newark, located at 277 Halsey St., was part of a $300,000 transaction. The real estate group stated it aims to turn the vacant structure into loft-style office space.

“Through Alexander Anderson Capital Group, we can bring the same out-of-the-box vision for redevelopment, extensive real estate investment expertise and management experience to the small investor, who might always have been interested in real estate but lacked the sufficient capital, knowledge or experience,” CEO Eric Anderson said in a news release.

Alexander Anderson also closed a $395,000 transaction for a 3,600-square-foot building at 5 Atlantic St., Hackensack, next to the Hackensack Performing Arts Center. Alexander Anderson will aim to redevelop the building by adding a bistro on the ground floor and two 1,200-square-foot units, on the second and third floors.

 

Published 1/4/17 at 11:27 am

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Alexander Anderson hires two VPs for Hudson office

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Alexander Anderson hires two VPs for Hudson office

By Eric Strauss, October 25, 2016 at 10:38 AM

Kenneth Brown, vice president of Hudson County sales, Alexander Anderson Real Estate Group.

Kenneth Brown, Vice President of Hudson County Sales,
Alexander Anderson Real Estate Group.
(ALEXANDER ANDERSON REAL ESTATE GROUP)
 

Alexander Anderson Real Estate Group has named a pair of vice presidents handling the Hudson County area, it said recently.

The Hackensack-based firm, which also has offices in Jersey City, said Kenneth Brown will serve as vice president of Hudson County sales, while Diana Vasquez will be vice president of the commercial division for Hudson County.

The two new positions will direct and manage the growth of Anderson’s Hudson County office, the firm said. Brown will lead the office, overseeing operations in the county. Vasquez, meanwhile, will focus on commercial sales, leasing and development in the area.
 

Diana Vasquez, vice president of the commercial division for Hudson County, Alexander Anderson Real Estate Group.
Diana Vasquez, Vice President,Commercial Division – Hudson County,
Alexander Anderson Real Estate Group.
(ALEXANDER ANDERSON REAL ESTATE GROUP)

 
We are committed to growing our business in Hudson County and are intensifying our focus there, particularly in Jersey City’s Journal Square area, with an eye toward replicating what we have accomplished in Hackensack in recent years,” Eric Anderson, CEO of Alexander Anderson, said in a prepared statement.

Brown has more than 15 years’ experience in luxury and investment property sales, the firm said, and has worked for firms including the Level Group, the Corcoran Group and Douglas Elliman Real Estate.

Vasquez has five years’ experience in investment sales and commercial leasing, most recently with Keller Williams Commercial Division.
 
 

Published 10/25/16 at 10:38 am

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Hackensack kicks off construction of performing arts center

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BY JOHN SEASLY – STAFF WRITER | THE RECORD
SEPTEMBER 27, 2016, 5:17 PM

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A rendering of the new Hackensack Performing Arts Center.

HACKENSACK – City officials, donning hard hats and weilding sledgehammers, celebrated on Tuesday morning the start of construction on the new Hackensack Performing Arts Center. The center, to be developed in the former Masonic Temple at 102 State St., is part of a larger redevelopment push for the entire downtown. The construction work is funded by a $2 million contract approved by the council in August. When completed, the center is expected to include a 224-seat theater on the second floor, a gallery space, lobby and box office.

“This is the final leg. We’re on the final turn,” Mayor John Labrosse said about the renovations that have long been a goal of the council and the Main Street Business Alliance. Officials on Tuesday posed at the building’s entrance and a ceremoniously positioned a slab of plaster. “Any aggressions you have, now is the time to take them out,” said developer Eric Anderson, CEO of the Alexander Anderson Real Estate Group. After posing for a photo, Labrosse and other officials took turns bashing the plasterboard, smashing it to pieces in minutes. The center is expected to be open in spring 2017.

 
Published: September 27, 2016, 5:17 PM / Last updated: Wednesday, September 28, 2016, 8:48 AM – NorthJersey.com

 

Redevelopment Draws Credit Union and Community Organization to Hackensack

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93 Main Street in Hackensack
 
By Steve Lubetkin – September 14, 2016
 
Move by Greater Bergen Community Action and First Bergen Federal Credit Union Signal Growing Interest in City’s Downtown Redevelopment Plan
 
HACKENSACK, NJ—Hackensack’s downtown redevelopment plan is bringing two organizations to leased space on Main Street in the Bergen County community. Greater Bergen Community Action, Bergen County’s federally designated antipoverty agency, is leasing 392 Main Street, a twostory, 11,000 squarefoot property, with an option to buy. The agency previously occupied about 12,000 square feet at 240 Main Street, a property it still owns, but that is being redeveloped into a 110 unit apartment building. In the second transaction, First Bergen Federal Credit Union leased 93 Main Street, a 2,400squarefoot retail property formerly occupied by Chase Bank. Previously, First Bergen Federal had leased space at 240 Main Street. Alexander Anderson Real Estate Group represented both the property owner and tenant in each transaction. The Main Street leases signal growing interest by commercial tenants in the City’s downtown redevelopment plan.
Eric Anderson, CEO of Alexander Anderson, says 392 Main Street had been on the market for sale periodically over the course of the last four years, but had not attracted much interest until now because it was located on a quiet end of Main Street. “However, Greater Bergen Community Action saw the potential of the special improvement district as new developers, retailers and restaurants began showing interest and investing in the Main Street redevelopment plan,” Anderson says.
Bergen Community Action’s new space is located next door to one of the area’s newest restaurants, Noches de Colombia, “which has been attracting a lot of attention in recent weeks,” noted Anderson, who also negotiated the lease at 382 Main Street for the new Spanish/Colombian restaurant in May. In addition, German supermarket chain Aldi will be developing a new store location on Main Street in the vicinity of Greater Community Bergen Action’s new offices. “The redevelopment of any downtown requires a few forwardthinking parties with a vision. We are excited to see that Greater Bergen Community Action saw the possibilities that Hackensack’s revitalized Main Street will offer, and that First Bergen Federal Credit Union remained committed to staying in downtown Hackensack,” Anderson says.
“Alexander Anderson is committed to helping potential commercial, residential and retail tenants alike see all the possibilities that Hackensack has to offer. Hackensack is a well located, bustling city offering proximity to New York and key business centers to the north and south. It will serve as a fine example of how those with vision can have a meaningful impact on its conversion to a true lifestyle and business destination.”
 
Published 9/14/2016 – GlobeSt.com
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Alexander Anderson Real Estate Group negotiates 2 leases totaling 13,400 s.f. in Hackensack

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392 Main Street in Hackensack – Courtesy: Alexander Anderson Real Estate Group
 
By Loreen Lesso – September 13, 2016 at 4.29 PM, updated September 16, 2016 at 11:50 AM
 
Move by Greater Bergen Community Action and First Bergen Federal Credit Union Signal Growing Interest in City’s Downtown Redevelopment Plan
 
HACKENSACK, NJ – Alexander Anderson Real Estate Group has negotiated two leases totaling 13,400 s.f. on Main Street in Hackensack, NJ.’s downtown area. The Main Street leases signal growing interest by commercial tenants in the City’s downtown redevelopment plan. Alexander Anderson represented both the property owner and tenant in each transaction.
In the first transaction, Greater Bergen Community Action leased, with an option to buy, 392 Main Street, a two‑story, 11,000‑s.f. property. Greater Bergen Community Action is a 501(c)(3), not‑for‑profit that serves as Bergen County’s federally designated anti‑poverty agency. The agency previously occupied approximately 12,000 s.f. at 240 Main Street, a property it still owns but that is being redeveloped into a 110‑unit apartment building. The mixed‑used property at 392 Main Street features onsite parking, two retail frontages, more than 5,300 s.f. of warehouse space with drive‑in access, high ceilings and accessibility to major highways. According to Eric Anderson, CEO of Alexander Anderson, 392 Main Street had been on the market for sale periodically over the course of the last four years but had not attracted much interest until now because it was located on a quiet end of Main Street.
“However, Greater Bergen Community Action saw the potential of the special improvement district as new developers, retailers and restaurants began showing interest and investing in the Main Street redevelopment plan.”
Bergen Community Action’s new space is located next door to one of the area’s newest restaurants, Noches de Columbia, “which has been attracting a lot of attention in recent weeks,” noted Anderson, who also negotiated the lease at 382 Main Street for the new Spanish/Columbian restaurant in May. In addition, German supermarket chain Aldi will be developing a new store location on Main Street in the vicinity of Greater Community Bergen Action’s new offices. In the second transaction, First Bergen Federal Credit Union leased 93 Main Street, a 2,400‑ s.f. retail property formerly occupied by Chase Bank. Previously, First Bergen Federal had also leased 1,000 s.f. of space at 240 Main Street. “The redevelopment of any downtown requires a few forward‑thinking parties with a vision. We are excited to see that Greater Bergen Community Action saw the possibilities that Hackensack’s revitalized Main Street will offer, and that First Bergen Federal Credit Union remained committed to staying in downtown Hackensack,” he said.
“Alexander Anderson is committed to helping potential commercial, residential and retail tenants alike see all the possibilities that Hackensack has to offer. Hackensack is a well‑located, bustling city offering proximity to New York and key business centers to the north and south. It will serve as a fine example of how those with vision can have a meaningful impact on its conversion to a true lifestyle and business destination.”
 
About Alexander Anderson Real Estate Group
Alexander Anderson Real Estate Group is a full‑service commercial real estate firm that provides clients with an extensive range of services including office, industrial, medical, retail and residential brokerage; investment sales; tenant representation; property management and construction management. Based in Hackensack, NJ, the firm also has offices in Jersey City, New Jersey.
 
Published 9/13/16 – NJ.com
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Alexander Anderson brokers two relocations in downtown Hackensack

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93 Main Street in Hackensack – Courtesy: Alexander Anderson Real Estate Group
 
By Joshua Burd, September 13, 2016
 
A nonprofit and a credit union have inked new leases in downtown Hackensack, in deals brokered by Alexander Anderson Real Estate Group.
 
HACKENSACK, NJ—The commercial real estate firm, announced Tuesday that Greater Bergen Community Action leased 392 Main St., a two-story, 11,000-square-foot property. The nonprofit, which serves as Bergen County’s federally designated
antipoverty agency, also has an option to buy the property.
The agency is relocating from 240 Main St., a property it still owns but one that is being redeveloped into a 110-unit
apartment building, Alexander Anderson said. Its new home includes on-site parking, two retail frontages and more than 5,300 square feet of warehouse space.
In the second deal, First Bergen Federal Credit Union leased 93 Main St., a 2,400-square-foot retail property formerly occupied by Chase Bank. The institution also is a former tenant of 240 Main St.
The Hackensack-based firm, which represented both the property owner and tenant in each transaction, touted the new leases as a sign of growing interest by commercial tenants in the city’s downtown redevelopment plan. A longrunning effort by city officials and business leaders has helped overhaul the plans and zoning process for the downtown, resulting in new mixed-use development within the onetime commercial heart of Bergen County.
“The redevelopment of any downtown requires a few forward-thinking parties with a vision,” Eric Anderson, CEO of Alexander Anderson, said in a prepared statement. “We are excited to see that Greater Bergen Community Action saw the possibilities that Hackensack’s revitalized Main Street will offer, and that First Bergen Federal Credit Union remained committed to staying in downtown Hackensack.”
He said 392 Main St. had been on the market for sale periodically over the course of the last four years, but had not attracted much interest until now because it was located on a quiet end of Main Street. But Greater Bergen Community Action “saw the potential of the special improvement district as new developers, retailers and restaurants began showing interest and investing in the Main Street redevelopment plan.”

 

Published 8/9/16 – re-nj.com

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Hackensack planners OK downtown apartment building

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A rendering of the project planned for 76 Main St., Hackensack.

 

By Joshua Burd, August 9, 2016 at 9:47 AM

 

A real estate firm is one step closer to building a new six-story apartment building in downtown Hackensack, following a recent approval by the city’s planning board.

 

HACKENSACK, NJ—The firm, Alexander Anderson Real Estate Group, said it plans to develop the 24-unit building at the site of a former residential property and restaurant that was destroyed in a fire last spring. The project at 76 Main St. will also include 4,207 square feet of retail space and is part of the city’s Main Street redevelopment plan, sitting about two blocks from the Bergen County Justice Center.

“This new development will be a cornerstone of the Main Street redevelopment plan and attract new residents and retail tenants to the area,” Eric Anderson, CEO of Alexander Anderson, said in a prepared statement. “We are already seeing heightened interest by residents and retail tenants alike in the special improvement district.”

The apartments will be located in floors two through five, the firm said in a news release. The sixth floor will consist of a lounge area with a bar and rooftop deck for tenant use.

“Alexander Anderson has had a longstanding presence in Hackensack, the county seat, where so many of the state’s premier service providers and a nationally recognized hospital system have found a home,” Anderson said. “Our vision is to turn the area into a state-of-the-art lifestyle and commerce destination reminiscent of its popularity during the 1930s and ’40s.”

 

Published 8/9/16 – NJBIZ.com

 

Alexander Anderson Real Estate Group to develop 24-unit mixed-use property in Hackensack as part of city’s downtown redevelopment plan

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By Loreen Lesso

 

Alexander Anderson Real Estate Group has received planning board approval from the City of Hackensack to develop a 24‑unit, mixed‑use property. The property will be developed at 76 Main Street, a site where a three‑story residential building and restaurant burned down in April 2015, as part of the City’s Main Street redevelopment plan.

 

According to Eric Anderson, CEO of Alexander Anderson, “This new development will be a cornerstone of the Main Street redevelopment plan and attract new residents and retail tenants to the area. We are already seeing heightened interest by residents and retail tenants alike in the special improvement district. ” The planned, six‑story building will feature 4,207 s.f. of retail space on the ground floor and first level, and six one‑bedroom apartments ranging from 621 to 801 s.f. in size will be located on floors two through five. The sixth floor will consist of a lounge area with a bar and rooftop deck for tenant use. Other amenities include washer/dryers in the units and proximity to the Bergen County Justice Center. “Alexander Anderson has had a long‑standing presence in Hackensack, the County seat, where so many of the state’s premier service providers and a nationally‑recognized hospital system have found a home,” noted Anderson. “Our vision is to turn the area into a state‑of‑the‑art lifestyle and commerce destination reminiscent of its popularity during the 1930s and 40s.” About Alexander Anderson Real Estate Group Alexander Anderson Real Estate Group is a full‑service commercial real estate firm that provides clients with an extensive range of services including office, industrial, medical, retail and residential brokerage; investment sales; tenant representation; property management and construction management. Based in Hackensack, NJ, the firm also has offices in Jersey City, New Jersey. For more information, visit www.alexander‑anderson.com

 

Published on July 29, 2016, updated August 03, 2016 – NJ.COM

 

Alexander Anderson Developing Hackensack Mixed-Use Property

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Rendering of new project at 76 Main St.

JULY 27, 2016 | BY STEVE LUBETKIN

 

HACKENSACK, NJ—The planned, six-story building will feature 4,207 square feet of retail space on the ground floor and first level, and six one-bedroom apartments ranging from 621 to 801 square feet in size will be located on floors two through five.

 

HACKENSACK, NJ—Alexander Anderson Real Estate Group has received planning board approval from the City of Hackensack, as part of the City’s Main Street redevelopment plan, to develop a 24-unit, mixed-use property at 76 Main Street, a site where a three-story residential building and restaurant burned down in April 2015.

“This new development will be a cornerstone of the Main Street redevelopment plan and attract new residents and retail tenants to the area,” says Eric Anderson, CEO of Alexander Anderson. “We are already seeing heightened interest by residents and retail tenants alike in the special improvement district. “

The planned, six-story building will feature 4,207 square feet of retail space on the ground floor and first level, and six one-bedroom apartments ranging from 621 to 801 square feet in size will be located on floors two through five. The sixth floor will consist of a lounge area with a bar and rooftop deck for tenant use.  The building is convenient to the Bergen County Justice Center.

Alexander Anderson has had a long-standing presence in Hackensack, the County seat, where so many of the state’s premier service providers and a nationally-recognized hospital system have found a home,” says Anderson. “Our vision is to turn the area into a state-of-the-art lifestyle and commerce destination reminiscent of its popularity during the 1930s and 40s.”

 

Published 7/27/16 – GlobeSt.com

 

Hackensack OKs Mixed Use Project On Main Street

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Rendering of new project at 76 Main St.
Photo Credit: Lorraine Ash

 

HACKENSACK, N.J. — A builder has received city approval to build a 24-unit, mixed-use property at 76 Main Street in Hackensack, where a three-story residential building and restaurant burned down last year.

 
The project, part of Hackensack’s Main Street redevelopment plan, will be developed by Alexander Anderson Real Estate Group.

“This new development will be a cornerstone of the Main Street redevelopment plan and attract new residents and retail tenants to the area,” said Eric Anderson, CEO of Alexander Anderson, based in Hackensack and Jersey City.

The planned, six-story building, which is close to the Bergen County Justice Center, will feature 4,207 square feet of retail space on the ground floor and first level.

Six one-bedroom apartments, ranging from 621 to 801 square feet, will be located on the second through fifth floors. Each will contain a washer/dryer unit.

The sixth floor will be a lounge area with a bar and rooftop deck for tenant use.

The vision, Anderson said, is to turn the area into a state-of-the-art lifestyle and commerce destination reminiscent of its popularity during the 1930s and 1940s.
 

Published 7/26/16 – Hackensack.dailyvoice.com
 

For Immediate Release 3-23-16

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Press Contact:
Noelle Frieson
Director, Communications
917.597.8084
noellefrieson@gmail.com

FOR IMMEDIATE RELEASE
March 23, 2016

 

 

Hackensack Avenue Is A Hot Spot
For Hackensack Area Developers

 

Hackensack, NJ – Alexander Anderson Real Estate Group, headquartered in Hackensack, NJ, announced the highly anticipated 1.6 Million dollar sale of three adjacent lots equaling over half an acre on Hackensack Avenue in Hackensack, New Jersey to become an Investors Savings Bank. This project is the first of major changes coming to Hackensack Avenue right across from the Hackensack Target.

The first of the three properties sold was Don Pomodoro Restaurant. Don Pomodoro has been in Hackensack for over 30 years and had a liquor license that was sold to another restaurant on Main Street. The other two properties consisted of empty lots that were previously holdings of the Packard Family Estate.

“This sale took over a year to put together. During negotiations the empty lot sold to a no-contingency two-week close buyer at a price less than our client’s offer. “Alexander Anderson was able to convince the buyer to resell the property to our client at a profit of over $200,000.” said Eric Anderson, CEO of Alexander Anderson Real Estate Group. After the sale of the lot, the other properties were able to come together to make up the larger development project. Be Kitto Realty, LLC is doing a ground lease to Investor Savings Bank, and will build a 2600 square foot facility with 21 parking spots and a drive thru.”

In addition, Alexander Anderson sold Harley’s Pub, a 27-year-old Irish bar, also on Hackensack Avenue. The developer of that property purchased the site for $700,000 and will be opening a Chicken Supreme, fast food franchise later this year.

About Alexander Anderson Real Estate Group
www.alexander-anderson.com

Led by CEO Eric Anderson, Alexander Anderson Real Estate Group is a boutique firm that has established itself as a leader in residential and commercial real estate, property management, finance, and development. With offices in both Bergen County and Hudson County, Alexander Anderson manages and owns apartments, condominiums, office, and retail space throughout New Jersey and specializes in assembling multi-lot projects enabling new developments for today’s changing urban market needs.