712 Route 17 in Paramus — Courtesy: NAI James E. Hanson
By Joshua Burd
The former home of a furniture store in Paramus is under new ownership, following a transaction arranged by NAI James E. Hanson.
The brokerage team said the buyer, Crown Paramus LLC, is a New York-based investor that is marking its entrance to the Route 17 retail corridor with its purchase of 712 Route 17. The freestanding structure, which previously housed Signature Leather, spans 8,625 square feet.
NAI Hanson’s Andrew Somple and Justin Allessio represented the seller.
“Recognizing the ever-improving retail market, Crown Paramus sought this opportunity to expand into the coveted Route 17 Paramus market,” Somple said. “This deal speaks to the strength and resilience of New Jersey’s retail market, and we are very excited to see what is next for this well-located property.”
In a news release, NAI Hanson said Crown Paramus plans to modernize the property through a series of renovations. Doing so will capitalize on its 90 feet of retail frontage, abundant parking and high visibility, with a location just off the highway’s Ridgewood Avenue and quick access to the Paramus Park Mall, Westfield Garden State Plaza, Interstate 80, Route 4 and the Garden State Parkway.
