32 Route 10 West in East Hanover — Courtesy: NAI James E. Hanson
By Joshua Burd
A retail building along Route 10 in Morris County is under new ownership, following a recent investment sale brokered by NAI James E. Hanson.
The 5,100-square-foot property, which was sold by Charles W. Kramer for an undisclosed amount, is located at 32 Route 10 West in East Hanover, NAI Hanson said in a news release. It is 100 percent leased and provided its new owner, NJ Retail Acquisitions, with a stable, profitable investment property in northern New Jersey.
NAI Hanson’s John Schilp represented the seller, while Jeffery Realty represented the buyer.
Schilp has represented the seller for many years and was responsible for leasing the space to the current tenant. He has also sold and leased three other Morris County spaces on behalf of the seller over the past several years.
“The northern New Jersey market, particularly in Morris County, continues to see strong demand for investment properties,” Schilp said. “This sale is another example of that trend as investors are aggressively searching for stable retail properties that offer strong long-term investment potential and returns.
“My long history of working with the owner of this building and significant experience in this market allowed me to negotiate the best possible deal for the seller.”
