Scotch Plains, N.J. (April 3, 2018) – NAI James E. Hanson announces it has brokered the sale of a 2,000-square-foot gas and service station on .65 acres at 2650 Route 22 in Scotch Plains, N.J. NAI James E. Hanson’s Gary Sauerborn and Dominic Fittizzi represented the seller, Scotch 22 LLC, in the NAI James E. Hanson exclusive transaction.
The buyer, Saurav & Cagan Mgt. LLC, recognized the opportunity presented by the location on one of New Jersey’s busiest highways and will upgrade the pre-existing gas station to modern standards. Currently branded as a Citgo station, 2650 Route 22 boasts two access points from either Route 22 or Mountain Ave with thousands of cars passing the property on a daily basis. The property also features 20 parking spaces and three double-wall fiberglass storage tanks installed in 2008.
“Early on in our marketing process of this service station, we recognized the great opportunity it presented as an investment opportunity for prospective buyers,” said Sauerborn. “With this in mind, we were able to leverage the property’s frontage on Route 22 and dual access points to attract an investor that was looking for an ideal value-add opportunity in one of the state’s hottest markets. This latest deal speaks to our team’s ability to effectively market our clients’ spaces to attract buyers and negotiate deals at a fair market value in line with the best usage for the property.”