NAI James E. Hanson on Tuesday announced the successful negotiation of the $8.74 million sale of a highly sought-after industrial property located at 8 Evans Street in Fairfield.
The property, a 3.35-acre industrial site, features a 28,000-square-foot warehouse and includes valuable Industrial Outdoor Storage (IOS). Its combination of flexible layout, IOS component, and strategic location just off Route 46—with seamless access to Interstates 80 and 280—positioned it as one of the most functional offerings in the submarket.
“Our client was in a strong position given the unique utility and location of the asset,” Michael Walters, executive Managing Director, Corporate Services at NAI James E. Hanson. “Properties like 8 Evans Street rarely come to market, and that scarcity helped drive a highly competitive process among qualified buyers.
The NAI James E. Hanson team, which included Walters and Cameron Silverstein, associate vice president, represented the seller, Anderson and Vreeland Realty Co., and brokered the sale to the buyer, KF Mechanical, LLC.
The brokerage team executed a targeted marketing strategy that attracted both institutional investors and active owner-users throughout the region.
Silverstein noted that current market dynamics are pushing operators toward ownership as a strategic move. “Sustained rent growth within institutionally owned industrial assets continues to push more operators toward ownership as a strategic alternative,” Silverstein added. “The response we received to this listing underscores just how strong owner-user demand is for well-located, highly functional properties like 8 Evans Street.”
The transaction underscores the continued strength of the Route 46 corridor, where limited industrial supply and rising rental rates are accelerating demand, particularly from owner-users seeking long-term real estate solutions.
