NAI James E. Hanson on Thursday said it negotiated the sale of a 7,000-square-foot office building at 51 Grove St. in Chester.
Hanson’s Sigmund Schorr and Joseph Vindigni represented both the buyer, Manjit Bajwa, and the seller, Leonard Properties LLC, in the transaction.
Located within walking distance of Chester’s historic downtown district, 51 Grove St. is a 7,000-square-foot, well-maintained professional office building featuring two floors of office suites with non-weight-bearing walls, making for easy office space reconfiguration. Additionally, the property has ample on-site parking and proximity to Route 206 and Interstates 78 and 287 as well as access to New Jersey Transit’s Gladstone Line.
The previous owner sought to capitalize on the property’s adaptability and location within Chester through a sale. NAI Hanson leveraged its experience in the Morris County office market and data-driven marketing strategy to secure a reputable buyer for the space who intends to use the building as an investment property.
“Sales such as this emphasize the continued demand for professional office space in strong markets like Morris County despite the negativity surrounding the overall office market,” Schorr stated. “We continue to see investors targeting buildings just like 51 Grove St. that offer easy access to the labor force and superior flexibility for a wide range of uses.”
