NAI Fennelly recently sold a 4,000-square-foot, freestanding retail building located at 28 Scotch Road in Ewing for $525,000. Jerry Fennelly, president of NAI Fennelly, represented the seller, Paul Warren.
28 Scotch Road sits in a highly visible location at the center of the new connection between Route 29 and Interstate 295. The property features ample parking and offers easy access to Interstate 95. The single-story building is currently fully occupied by Galls, a public safety equipment and uniform retailer that specializes in serving the needs of law enforcement, military, security, fire, EMS and more.
Recognizing NAI Fennelly’s market knowledge of the Mercer County region, the seller tapped the real estate solutions provider to secure a buyer. Emblematic of the firm’s local relationships and hands-on approach to representation, NAI Fennelly gauged the interest of Hofing Management, a commercial real estate firm that NAI Fennelly represents throughout the region. Looking to expand its 2 million-square-foot national portfolio, Hofing Management agreed to purchase the building.
By leveraging its local expertise and client-focused approach, NAI Fennelly was able to quickly expedite the sale to create an ideal situation for both clients.
“While the regional retail sector remains challenging, the recent wave of new multifamily development in the Ewing area has created an ideal retail submarket,” Fennelly said. “This deal speaks to our firm’s deep market knowledge and our ability to provide both buyers and sellers with the insights and resources needed to accomplish their real estate goals. We are pleased to have helped Paul Warren in his planned retirement through this sale and to continue working with Hofing Management amid their portfolio expansion. We look forward to bringing more deals across the finish line for them in future.”