Montgomery, N.J. (January 3, 2022) – NAI James E. Hanson announces it has negotiated the sale of a 10,000-square-foot retail building located at 2176 US-206 Montgomery, N.J. NAI James E Hanson’s Jonathan Kristofich and John Schilp represented the private buyer and seller in the transaction.
Currently occupied by The Learning Experience, an early-childhood daycare center, 2176 US-206 is a freestanding retail space sitting on a sizable 1.63 acres of land. Conveniently centered between Somerville and Princeton, the property sits within proximity to many employers in the higher education, medical and pharmaceutical industries, as well as major retailers including Shoprite, Wawa and Dunkin Donuts. In addition, the property is ideally situated in the bedroom community of Montgomery with both strong household incomes and well-performing schools that make it highly sought after by families and businesses alike.
As a result of NAI James E. Hanson’s aggressive marketing strategy, the buyer, a local real estate investor, showed interest in purchasing the property. Impressed by the combination of the property’s excellent location, the area’s strong demographics and the stability offered by the current tenant, the buyer agreed to purchase the building via a 1031 exchange, allowing for a quick and efficient transaction that exemplifies the liquidity of the current market.
“Right now, a significant portion of the market’s above-average liquidity can be attributed to investors looking for opportunities to deploy capital from 1031 exchanges,” said Kristofich. “However, the current tightness of the market can often make it difficult for investors to find ideal opportunities to deploy capital and meet the timing requirements of the program. This transaction exemplifies how both 1031 exchange buyers and sellers hoping to capitalize on a red-hot real estate market can execute deals in an efficient and productive manner through working with a highly experienced broker.”