389 Route 10 in East Hanover — Courtesy: Sheldon Gross Realty
By Joshua Burd
An investor has purchased a nearly 27,000-square-foot strip mall in East Hanover, under a newly completed transaction by Sheldon Gross Realty.
The brokerage firm announced Thursday that Roy Pascal has closed on his acquisition of 389 Route 10, a 26,950-square-foot property just east of River Road. Made up of four units, the complex’s tenants include the prescription eyewear retailer Luxottica and Enterprise Rent-A-Car.
Sheldon Gross Realty Vice President Eric Weston spearheaded the transaction, noting that the firm has managed property since 2014. Terms were not disclosed.
“Because our company has managed this property for years, I know what an excellent opportunity it represents for the new owner,” Weston said. “The entire Route 10 corridor through East Hanover is a tremendously vibrant retail and entertainment location. For tenants, there’s never a shortage of potential shoppers.”
