Parsippany, N.J. (April, 2016) – NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announced it has brokered the sale of a 36,216-square-foot office building located at 119 Littleton Road in Parsippany, N.J. NAI Hanson’s Josh Levering, SIOR and James Kenah represented the seller, Hollywood Towne House LCC, in the sale to Commercial Realty Group. Commercial Realty Group has also retained NAI Hanson to market and lease the building following the acquisition.
“119 Littleton Road provided a unique opportunity for a tenant or an investor / developer to own a smaller office / professional building in the heart of Parsippany,” said Levering. “We worked with the seller to price it aggressively. This enabled us to sell the property quickly to a qualified buyer. Upon acquisition, Commercial Realty Group announced plans to fully renovate and upgrade the property with occupancy slated for July/August 2016. In addition, Commercial Realty Group will be occupying the building as its headquarters location. Because of our superior knowledge of the marketplace as well as our successful history marketing 119 Littleton, the buyer decided to retain our services as the exclusive leasing and marketing agents.”
119 Littleton is located on the Parsippany Road corridor and offers excellent highway exposure coupled with ample parking and immediate access to Routes 80, 287, 46 and 202. The property is also very close to Routes 280, 24 /78, the GS Parkway, NJ Turnpike and Newark Liberty International Airport. New York City is within 45 minutes.
“Under the new ownership, the property will undergo extensive upgrades and renovations to both its exterior and interior,” Said Kenah. “Ownership plans to renovate this smaller ‘C’ building into one of the best positioned, class-A properties in Parsippany and the surrounding marketplace. 119 Littleton will be a desirable and functional home to smaller tenants in the marketplace.”
Levering continued, “The extensive planned renovations will breathe new life into the property and the marketplace, bringing the amenities and services of a newly constructed, first-class building.”
119 Littleton will offer two full floors of approximately 12,000-square-feet each, in addition to pre-built suites starting at 1,384-square-feet. Building signage opportunities for larger tenants are currently available.
For leasing information please contact Josh Levering at 973-463-1011 ext. 137.
To stay connected with NAI James E Hanson and for updates on the latest transactions and news, please follow NAI Hanson on Facebook (www.facebook.com/NAIHanson), Twitter (@NAI_Hanson), and LinkedIn (https://www.linkedin.com/company/nai-james-e-hanson).
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 400 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 www.naihanson.com.