M id A tlantic Real Estate Journal — New Jersey — July 24 - August 13, 2020 — 3B
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N ew J ersey
Sales associate Tom Scatuorchio & S.V.P. Matt Weilheimer arrange sale Kislak sells 40,000 sf office & retail property in Parsippany for $4.4 Million
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other investment properties in Morris and Essex counties. In 2017, he was awarded Kislak’s Rising Star award. Weilheimer joined Kislak in 1996 and is consistent- ly among the firm’s leading salespeople. He specializes in the sale of apartment build- ings, REO assets and other investment properties in New Jersey, New York, Delaware, and Pennsylvania. He has won numerous sales production awards including the firm’s 2010 and 2015 Production awards. MAREJ
ARSIPPANY, NJ — The Kislak Compa- ny, Inc. announced the
$4.375 mil- l i onsa l e o f Colony Pla- za, a 40,000 s/f mixed-use o f f i c e and retail prop- erty located a t 1 1 8 0 - 1 2 2 0 R t e . 46, Parsip- pany, Morris County. K i s l a k marketed the property on behalf of the seller, a pri- vate investor,
Tom Scatuorchio
1180-1220 Route 46
Matt Weilheimer
with sales associate Tom Scatuorchio and senior vice president Matt Weilheimer handling the assignment. Scatuorchio also procured the purchaser, another private investor. “Our close relationships with both the seller and pur- chaser enabled us to utilize creative solutions to overcome several complicated hurdles in order to ultimately close the transaction,” said Scatuorchio. Weilheimer added: “In my 25 years selling real estate, I have never seen so many complex challenges to closing a deal. It is a credit to the seller and purchaser and their profes- sionalism that we were able to cross the finish line.” Situated on a 3.2-acre site, the property consists of three existing buildings with a total of 40,000 square feet of office and retail space in a B-2 Zon- ing Highway Development District. A corner location with an AADT of 23,007, and easy access to the major highways of Routes 10 and 287, the prop- erty is surrounded by major national brand tenants such as Target, Michaels, LA Fitness, Shop Rite, Staples and Bed Bath & Beyond. Morris County, one of the wealthiest counties in the nation, and home to over 30 Fortune 500 businesses with headquarters, offices or a ma- jor facility therein, is host to other major industries includ- ing finance, health services, insurance, pharmaceuticals, real estate, R&D, and tech- nology. Scatuorchio joined Kislak in 2016 and specializes in the sale of multifamily and
EXCLUSIVE PROPERTIES FOR SALE
Atlantic City, NJ 30 Residential Units Justin Lupo ext 225 Daniel Lanni ext 248
Westfield, NJ 20,650 SF Med. Office | Potential to convert to 16 Apts. + 45 Pkg Spaces Michael Salomon ext 243
Maplewood, NJ 20 Units | New Construction Joni Sweetwood ext 273
Old Bridge, NJ 7 Units and 1 Commercial Space Matt Weilheimer ext 272
Westfield, NJ 9 Units and 1 Commercial Space Michael Salomon ext 243
Red Bank, NJ 3 Units and 1 Retail Daniel Lanni ext 248
The Kislak Company, Inc. | kislakrealty.com | 732 750 3000
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