46 Route 94 in Vernon — Courtesy: VanRockCRE
By Joshua Burd
A private investor has purchased a nearly 12,000-square-foot retail property along a key throughfare in Sussex County, according to a brokerage team with VanRockCRE.
Located in Vernon Township, at 46 Route 94, the building is home to two tenants including a 9,511-square-foot Dollar General that is ranked No. 11 out of the chain’s 183 stores in New Jersey, according to data cited by Placer.ai. Operating alongside the Fortune 500 retailer is Mountain Dispensary, a 2,500-square-foot cannabis shop serving northern New Jersey that adds diversification and long-term stability to the roster.
VanRockCRE principals Marc Palestina and CJ Huter and Executive Vice President Lew Finkelstein represented both the seller and buyer alongside Neil Goldstein, principal at The Goldstein Group. Terms were not disclosed.
“This transaction highlights the continued demand for high-quality, net-leased and necessity-based retail assets in New Jersey,” Palestina said. “Properties anchored by nationally recognized tenants like Dollar General continue to attract strong investor interest, especially when paired with complementary uses.”
Huter added: “Representing both sides of the transaction allowed us to deliver a seamless process and align objectives from start to finish. This deal underscores our ability to execute complex investment sales while maximizing value for all parties involved.”
