The former home of Signature Leather in Paramus has sold.
On Jan. 17, NAI James E. Hanson announced it negotiated the sale of 712 Route 17.
The firm’s Andrew Somple and Justin Assessio represented the seller in the transaction with Crown Paramus LLC, the buyer. Financial terms were not disclosed.
712 Route 17 in Paramus. – NAI JAMES E. HANSON
The 8,625-square-foot freestanding property offers 90 feet of retail frontage, parking and high visibility, all of which, according to NAI Hanson, generated considerable interest from real estate investors and developers, like Crown Paramus LLC.
According to the firm, the New York-based buyer will expand its commercial real estate footprint in the Garden State. At the retail property located just off the Ridgewood Avenue exit on Route 17, Crown Paramus LLC will execute a modernizing renovation plan to make it appealing to lease.
“Recognizing the ever-improving retail market, Crown Paramus sought this opportunity to expand into the coveted Route 17 Paramus market,” said Somple. “This deal speaks to the strength and resilience of New Jersey’s retail market, and we are very excited to see what is next for this well-located property.”
