NAI James E. Hanson Arranges Sale of Mountain Lakes Office Building
Mountain Lakes, N.J. (December 13, 2017) – NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announced they have sold The Plaza at Mountain Lakes, an 11,000-square-foot office building at 60 Midvale Road in Mountain Lakes, N.J. NAI Hanson’s Andrew Kirshenbaum, Barry Meyer, Arthur Hixson, Josh Levering, SIOR and Nicholas DePaolera all worked on behalf of seller, 60 Midvale, LLC, on this sale. The buyer, Giovanna Levato, was represented by the Law Offices of Antonietta L. Milelli, LLC.
The Plaza at Mountain Lakes is a two-story, 11,000-square-foot multi-tenant office building with ample parking and flexible zoning allowing for both office and retail uses. The building is centrally located in Mountain Lakes nearby the Mountain Lakes train station and various commercial business establishments.
“The buyer recognized an opportunity to own a well-located investment while also being able to occupy a small unit for their business. Historically low interest rates and sustained demand for well-located commercial buildings throughout northern New Jersey creates the perfect opportunity for investors and users looking to purchase assets,” said Andrew Kirshenbaum. “Because of this, we focused early in our marketing process to position the building towards these types of opportunistic investors. Our experience with similar buildings supported us with our negotiations on behalf of our client to secure an acceptable price, terms and conditions for the building.”
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