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- Unique investment opportunity in Franklin and Hardyston Townships for 360 acres of vacant residential or commercial land, which is divisible into 3 separate lots- PARSIPPANY, N.J, AUGUST 17, 2009 - NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, announced today that it has been appointed as the exclusive sales agent for a large tract of vacant land, which totals 360 acres and is located in Franklin and Hardyston Townships in New Jersey. NAI Hanson's John Schilp, Senior Vice President, will be responsible for marketing this property on behalf of the seller, Imperatore Sussex Partnership, L.P. "This opportunity is indicative of a larger trend that we are seeing in land sales following New Jersey's Highlands Act of 2004, which limits new development in the Northwest region of the state," stated Schilp. "As a result, land in this area is now available at very affordable prices." The 360-acre parcel of land is made up of 3 separate parcels, which are located in Franklin and Hardyston Townships. The first parcel totals 31 acres and consists of 14 acres of residentially zoned vacant land in Hamburg Borough and 17 acres of contiguous vacant land in neighboring Hardyston Township, which is zoned as a minimum impact development district and includes a billboard sign leased to CBS on Route 23, which provides annual income. The second parcel of land, which is situated with frontage on Route 23 in Franklin Township, is made up of approximately 76 acres of vacant farmland assessed wooded land, which is located in the Highlands Planning Area where development is permitted. The frontage is zoned Highway Commercial and the balance is zoned 3 acre single-family residential development. The third parcel is approximately 257 acres of farmland assessed wooded and open vacant land, which sits in Hardyston Township. This land, which adjoins the Hamburg Mountain State Park and is zoned as a minimum impact development district, is located in the Highlands Core Preservation area and can be well suited for large estate lots. Prices for all three parcels are very attractive for an astute investor or developer. "At NAI Hanson, we are fortunate to have the resources and the tools in place to be able to service a broad range of clients across all sectors of the commercial real estate industry, including land use, office and industrial," noted Schilp. "This is beneficial to the success of our firm, particularly given the current state of the economy and the unique challenges that have to be overcome in order to close deals. Ultimately, this assignment is a testament to our expertise in land use, our reputation in the marketplace and our ability to offer our clients a full-service platform that builds from the depth and breadth of our firm's services and national footprint. We are excited about being a part of this outstanding opportunity and we look forward to matching the right buyer, or buyers, with the available land." About NAI James E. Hanson Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise. NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with over 325 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company's Hackensack office at 201-488-5800 or visit http://www.naihanson.com/.
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