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Recent Property Sale in Hunterdon County
A remarkable property in Hunterdon County has changed hands for a princely sum of $4,825,000. This includes a pair of banks and several medical offices.
Property Details
The site in question, located at 194 Route 31 in Raritan Township, spans a generous 15,232 square feet. Originally constructed in 2006, the two-storey building provides a modern space for three medical facilities in addition to housing a bank.
Location Perks
Ideally positioned north of downtown Flemington, the complex enjoys excellent connectivity. It’s close to the Hunterdon Medical Center and has convenient access to several major routes. These include Interstate 78, Flemington Circle, Route 202, and Route 22. Such a strategic location makes it especially attractive for businesses and customers alike.
Competitive Sales Process
The renowned Kislak Company, represented by Senior Vice President Daniel Lanni, oversaw the property’s sale. He reflected on the process, which was fiercely competitive. “Our team worked relentlessly to ensure the property was positioned to maximise value,” he remarked. “With strong interest and multiple offers, we secured an all-cash buyer at a price exceeding initial expectations.”
Anonymity of the Buyer
Though the seller, P-2 Real Estate Associates LLC, was made public, the buyer remains undisclosed. This sale shines a spotlight on the robust demand for commercial properties in this region. It’s a testament to the confidence investors have in Hunterdon County’s economic potential.
Related Developments
It’s worth noting that properties along Route 31 and nearby areas are experiencing a surge in interest. This is likely driven by the potential for increased foot traffic and accessibility improvements in the region.
Investment Insights
For those intrigued by commercial real estate, understanding such transactions can be pivotal. The success of this sale underscores the importance of location, modern infrastructure, and strategic marketing in attracting premium offers.
For further insights, you may wish to explore regional real estate trends or peruse the Kislak Company’s official announcements.
