11K sq.ft. Mountain Lakes office building sold

The Plaza at Mountain Lakes has been sold, NAI James E. Hanson announced.

NAI Hanson’s Andrew Kirshenbaum, Barry Mayer, Arthur Hixson, Josh Levering and Nicholas DePaolera worked on behalf of 60 Midvale to sell the 11,000-square-foot office building at 60 Midvale Road.

Giovanna Levato was the buyer, represented by the Law Offices of Antonietta L. Milelli LLC.

The two-story, multitenant office building is located in Mountain Lakes near the Mountain Lakes train station and various commercial business establishments.

“The buyer recognized an opportunity to own a well-located investment, while also being able to occupy a small unit for their business,” Kirshenbaum said. “Historically low interest rates and sustained demand for well-located commercial buildings throughout northern New Jersey creates the perfect opportunity for investors and users looking to purchase assets. Because of this, we focused early in our marketing process to position the building towards these types of opportunistic investors. Our experience with similar buildings supported us with our negotiations on behalf of our client to secure an acceptable price, terms and conditions for the building.”