33-39 Ridgedale Ave. in East Hanover — Courtesy: The Goldstein Group
By Joshua Burd
An investment group has sold a 15,000-square-foot retail center off Route 10 in East Hanover, in a newly announced transaction arranged by The Goldstein Group.
Brokers with the firm represented MVD LLC, a joint venture of Mike Spagnolo, Vince Macri and Don McHugh, in its sale of the property at 33-39 Ridgedale Ave. They noted that Cresthill Academy, an early education center, anchors the property in one of the region’s most active retail corridors.
The team on the deal, the terms of which were not disclosed, include The Goldstein Group Executive Vice President Lew Finkelstein and Vice President CJ Huter. They also represented the buyer, Sam Pareddy’s South Fifth LLC.
“After a comprehensive marketing campaign of the property, we were able to narrow down the focus of a few potential purchasers,” said Chuck Lanyard, The Goldstein Group’s president. “We were able to work through the details of the deal for all parties involved and the buyer was able to add this property to their portfolio.”