Kislak Commercial Real Estate Services, the commercial sales and leasing affiliate of The Kislak Company, announced the recent sale of Echo Hill Plaza, a 16,000-square-foot mixed-use commercial retail and office building at 1128 Route 31 in Lebanon for $1,275,000.
Kislak marketed the property on behalf of the seller with commercial sales and leasing associate Sara Soliman handling the assignment, and she also procured the purchaser.
The parties were not disclosed.
“This was the buyer’s first acquisition of a building of this size, facilitated through an I.R.C Section 1031 exchange and supported by seller financing. The offering presented an attractive investment opportunity and although the process involved various complexities, we worked through them diligently to ensure a successful closing,” Soliman said.
Echo Hill Plaza, formerly the Van Cleef Engineering professional building, boasts a prime location with stunning wooded views, ample natural light, and a well-maintained structure.
The property has a mix of excellent tenants and is strategically positioned near Route 78, making it an attractive investment opportunity. The building is situated in a high-traffic area, with an average of 25,000 vehicles passing by daily.
Soliman also secured a new beauty bar tenant for the property.
