By Joshua Burd
The site of a nearly 3,700-square-foot retail building in Paramus has changed hands and is now slated to become a home electronics store, brokers with The Goldstein Group announced.
According to a news release, buyer Twelve Route 4 plans to renovate the freestanding property at 197 Route 17 after acquiring it for an undisclosed price. That will give way to the debut of a new Electronics Expo at the 3,650-square-foot building, which occupies just under an acre.
Goldstein Group Principal Neil Goldstein and Vice President John Ostrowski represented the purchaser. Greg Panayoti of NIA National Realty represented the seller, PB One LLC.
In a second deal, Goldstein Group Vice President Scott Milich represented Pizzazz Holdings LLC in its sale of an 8,000-square-foot strip center at 37 Route 59 in Nyack, New York. He also represented the buyer, MDDK Realty LLC, which paid an undisclosed price.
“We are thrilled to announce the sale of two more properties in the region” Goldstein said. “Over the past several months we have seen an uptick in the market of people interested in purchasing retail properties. The Paramus sale provided an opportunity for a new tenant to enter the market while the Nyack, New York property was an investment sale situation.”
