Five adjacent lots in Parsippany were sold to H.K. Truck Center for $3.68 million, according to a Tuesday announcement from NAI James E. Hanson, which brokered the transaction.
Located at 10-30 Fanny Road, just off Route 202 at the intersection of Intervale Road and Fanny Road in eastern Morris County, the lots cover 3.4 acres and include a 15,818-square-foot maintenance building. The property also boasts close proximity to several major transportation outlets including Interstates 287, 80 and Route 46.
NAI James E. Hanson’s Michael Walters and Cameron Silverstein represented the seller, HFC Holdings LLC, in the transaction.
Founded in 1982, H.K. Truck Center is a dealership for commercial truck parts, service, rental, leasing and sales, with its headquarters located in South Plainfield. A longtime tenant at 10 Fanny Road, the company plans to demolish the existing building at the property and redevelop the site into a state-of-the-art truck repair facility.
“With the limited supply of space available for redevelopment in Morris County and the surrounding area, we are thrilled to have helped our client secure fair market value while allowing a tenant to continue operating their business at the space,” Walters said. “We look forward to continuing our work with our client, HFC Holdings, and wish H.K. Truck Center all the best going forward.”
