Mountainside, N.J. (March 1, 2018) – NAI James E. Hanson announces it has brokered the sale of a 20,000-square-foot office building at 1139 Spruce Drive in Mountainside, N.J. NAI James E. Hanson’s Eric Demmers and, Russ Verducci represented the seller, Delaney Real Estate Holdings, LLP, in the NAI James E. Hanson exclusive listing.
1139 Spruce Drive is a two-story professional office building located within feet of Route 22 West with easy access to the Garden State Parkway and Interstate 78. The buyer, Jiljo Real Estate Holdings, was seeking a strategically located space that would allow them to grow their counseling business.
“In our current low rate environment, more business owners are recognizing the advantages of owning a space versus leasing,” said Verducci. “As the supply of quality office buildings continues to lag behind demand, well-located assets like 1139 Spruce Drive will continue to attract a substantial interest from business owners looking for owner/operator opportunities and positions sellers to secure a premium price for their assets.”