111 Route 46 in Budd Lake — Courtesy: NAI James E. Hanson
By Joshua Burd
An online seller of electric bikes, scooters and motorcycles is opening its first showroom after signing a lease at a Morris County retail building, according to NAI James E Hanson.
Brokers with the firm represented both parties in the transaction at 111 Route 46, in the Budd Lake section of Mount Olive, where MidVale Associates LLC is leasing 1,800 square feet to Naticycle Corp. Previously operating as only an e-commerce company, the tenant will use the space to allow customers to schedule a test drive and get an in-person look at its product offerings.
“As many sectors of the retail market struggle, the demand for products related to outdoor activities continues to stay elevated,” said NAI Hanson’s Joseph Vindigni, who brokered the transaction. “I was pleased to be able to help the landlord attract an in-demand tenant to their space while helping a local company expand their business through a physical location that will enable them to grow their customer base.”
The brokerage team announced the deal while citing the building’s frontage along busy Route 46, which sees more than 29,000 vehicles pass by daily. The property also boasts ample customer parking and easy accessibility to major arteries such as Interstate 80 and Route 206.