NAI James E. Hanson announced the sale of a 10,000-square-foot mixed-use building in Sussex County on May 6.
The full-service independent commercial real estate firm’s Joe Vindigni and John Schilp represented the sellers — H. Robert and April Kaprelian — in the transaction while United Real Estate of North Jersey represented the buyer, Thomas Capo.
Financial terms of the deal were not disclosed.
“The past two years have forced businesses to reassess their short and long-term plans,” Vindigni said in a statement. “Relocations are becoming increasingly common as companies of all sizes look to adjust and find spaces that better fit their evolving needs.”
Amid that continuing trend, “property owners have a unique opportunity to capitalize on the market and secure premium values for their adaptable properties across northern New Jersey,” he added.
The property located at 238 Route 206 in Byram sits on 2.35 acres. In addition to flexible retail and office space, serviced by an elevator, there are two apartments, each with two bedrooms; two recently paved parking lots and a backup generator.
According to NAI Hanson, the sellers enlisted the firm with the expectation of capitalizing on demand for quality retail space within the North Jersey county. The buyer was relocating from Lake Hopatcong and in need of a flexible space.
NAI Hanson says Capo plans to use the property as a sales and inventory center for his KPODJ Lighting & DJ Gear business.