By Joshua Burd
An auto dealership focused on luxury electric vehicles has leased nearly 6,900 square feet of highway retail space in East Hanover, in a newly announced deal by CBRE.
In a news release, the brokerage team said Prestige Collection EV LLC will fill a vacant building at 265 Route 10. The lease provides it with a location that sees average daily traffic of 47,000 vehicles with a median household income of some $150,000 within a one-mile radius, along with high-capacity HVAC, 1,200-amp electric service, well-lit paved parking and existing pylon signage.
CBRE’s Marta Person Villa negotiated the 6,872-square-foot lease on behalf of the landlord, 265 Route 10 East LLC.
“Offering prime visibility along the heavily trafficked Route 10 corridor, a great signage canopy and parking for 26 vehicles, the former tanning salon location offered a valuable opportunity for this expanding EV dealership,” she said. “We are extremely happy we were able to negotiate a beneficial transaction for our client, Prestige Collection EV, and the local community.”
