NAI James E. Hanson has arranged the sale of 244 acres of land in Lebanon Township that will be preserved from development as part of a greenway in Hunterdon County, the real estate firm said Tuesday.
The property along Mt. Lebanon Road was sold by Earl Pelio of Pelio Farms to a group that includes the New Jersey Conservation Foundation, the New Jersey Green Acres Program, Lebanon Township, Hunterdon Land Trust, the Nature Conservancy, Victoria Foundation, 1772 Foundation, Leavens Foundation and the New Jersey Water Supply Authority. The buyers created a public-private partnership to acquire the land.
NAI Hanson’s John J. Schilp and Sigmund Schorr represented the buyers in the deal.
“When dealing with property of this size and a public-private partnership of this complexity, it is crucial for a commercial real estate brokerage to deliver superior customer service to ensure that a fair and mutually beneficial deal can be negotiated on behalf of both the buyer and seller,” Schilp said in a prepared statement. “As real estate development continues to move north and west in the state, we continue to see preservation groups show interest in acquiring and protecting high-quality land like this from development.
“We were honored to work with the buyers and seller in this transaction to guarantee that this land can be enjoyed by the public for many years to come.”