NAI Hanson Arranges Sale of Former Cherokee Trading Post in Budd Lake, N.J.
Budd Lake, N.J. (July 20, 2017) – NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announced it has brokered the sale of the former Cherokee Trading Post, a 5,919-square-foot retail building, and a single family home on the adjacent lot located at 67 Rt. 46 in Budd Lake, N.J. NAI Hanson’s Sig Schorr represented the sellers, Allen and Tracy Typinski, and NAI Hanson’s Joe Vindigni represented the buyer, Rohan Kranti, in the transaction.
For the thousands of drivers that use Route 46 on a daily basis, The Cherokee Trading Post and its distinct teepee crown had been a landmark for over forty years. Since the business closed its doors last year, the free-standing building at the corner of Route 46 and Old Budd Lake Road had sat vacant. Featuring 25 parking spaces, excellent frontage at a lighted intersection and a prime location less than a mile from Interstate 80, the property provides the new owner with a highly flexible development opportunity. The single-family home included in the sale on the adjacent lot will provide cashflow to the property as a leasable asset until development of both lots begins.
“Every town knows that it is always bittersweet to see a landmark property such as the Cherokee Trading Post permanently turn off the lights,” said Schorr. “Luckily for Budd Lake, this property’s supreme location and adaptability mean that the buyer will be able to redevelop the land to bring a new and exciting business to the town. Working with my colleague, Joe Vindigni, we negotiated a mutually beneficial deal to allow the new owner to quickly begin planning the development process at the property.”
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