467 Main St. in Orange — Courtesy: Deugen Development
By Joshua Burd
Deugen Development has brokered the sale of a 3,900-square-foot retail building in Orange, touting its location in a key redevelopment area and a federally designated Opportunity Zone.
The Hoboken-based firm said recently that it represented both parties in the deal at 467 Main St., less than a half-mile from Interstate 280. The property includes two retail units and one apartment, the company’s Kristian Cichon said, noting that an average of 18,000 vehicles pass the site daily.
As part of an Opportunity Zone, it’s eligible for federal tax benefits tied to long-term investments in the site. Deugen also said it is located within Orange’s Upper Main Street Redevelopment Plan.
