802-808 Route 15 in Lake Hopatcong — Courtesy: NAI James E. Hanson
By Joshua Burd
A multitenant, 6,000-square-foot retail property in Lake Hopatcong has changed hands, following a transaction arranged by NAI James E. Hanson.
The real estate services firm announced Wednesday that it represented the seller, BD Newhouse LLC, in the trade of 802-808 Route 15. The buyer, Gardners Shed, will occupy a portion of the space while maintaining the balance as an income-producing investment property.
NAI Hanson’s Joe Vindigni completed the sale. Terms were not disclosed.
“Our team recognized early on that this property’s strategic location and a wide range of tenants made it an ideal investment opportunity in this market,” Vindigni said. “Leveraging our decades of experience in northern New Jersey, we were able to effectively market the property to secure a buyer and negotiate a deal for fair market value on behalf of our client.”
In a news release, NAI Hanson touted the property’s location directly off Route 15 and its proximity to Interstate 80, along with its access to a population of more than 24,000 potential shoppers within a three-mile radius. The seven-unit building also has 50 feet of lake access.