Summit, N.J. – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has negotiated a lease for 3,600 square feet of office space at 129 Summit Avenue in Summit N.J. NAI James E. Hanson’s Tom Ryan represented the landlord, Devon Partner Properties, LLC, in the transaction with the tenant, Lionheart Wealth Management, LLC, who was represented by Cushman & Wakefield’s East Rutherford, N.J. office.
Located in downtown Summit, 129 Summit Avenue is a two-story, 11,400-square-foot office building with an elevator and access to ample public parking. Situated three blocks from New Jersey Transit’s Summit Train Station, the building also offers convenient access to Route 24, Interstate 78 and the Garden State Parkway.
Tapped as the exclusive brokerage firm for the property in 2022 , NAI James E. Hanson implemented a data-driven marketing strategy to attract reputable tenants and capitalize on the demand for office space in downtown Summit. Lionheart Wealth Management, a subsidiary of Ameriprise Financial Services, LLC, an independent wealth management, investment advisory, and financial planning practice, will use the space to expand their presence into Summit. In addition to the lease with Lionheart Wealth Management, LLC, NAI James E. Hanson also helped the landlord successfully lease 2,224 square feet of office space to Gratitude Homecare, LLC in August 2022.
“Downtown Summit has a very unique office market,” said Ryan. “There are a limited number of spaces available which directly impacts pricing in the area. Through our efforts, we were able to attract a high-quality tenant to the property, secure value on our client’s behalf and help bring in a company that can provide a valuable service to the community.”
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