1139 Spruce Drive in Mountainside — Courtesy: NAI James E. Hanson
By Joshua Burd
A two-story office building in Mountainside has changed hands, following a sale arranged by brokers with NAI James E. Hanson.
The real estate services firm announced the sale after marketing the 20,000-square-foot property, located 1139 Spruce Drive, on behalf of Delaney Real Estate Holdings LLP. Jiljo Real Estate Holdings acquired the building as part of an expansion of its counseling business, the firm said.
NAI Hanson’s Eric Demmers and Russ Verducci represented the seller, noting its location just off Route 22 and proximity to the Garden State Parkway and Interstate 78.
“In our current low rate environment, more business owners are recognizing the advantages of owning a space versus leasing,” Verducci said. “As the supply of quality office buildings continues to lag behind demand, well-located assets like 1139 Spruce Drive will continue to attract a substantial interest from business owners looking for owner/operator opportunities and positions sellers to secure a premium price for their assets.”
