Matthew Weiss of Moonachie based Weiss Realty has announced the sale of 34 Maple Avenue in Pine Brook. Located in the Parsippany office submarket, the 130,180 sq. ft. fully air conditioned two story office/flex building is situated on 10.42 acres and prominently visible on the service road of Interstate Route 80.
Weiss Realty represented the sellers, a partnership including the principals of Englewood Cliffs based CHT Group and Jaime M. Weiss, the managing member of 34 Maple Avenue LLC, in the sale to iStar Realty LLC. CHT Group is a family-owned company that has developed and managed residential and commercial properties since its founding in 1972 by Joseph G. Berardo. Prior to the sale, Weiss Realty acted as the exclusive property manager and leasing agent for ownership.
Greg Sabato and Scott Peck of Resource Realty of Northern New Jersey represented the buyer in this transaction. Meyner & Landis of Newark acted as legal advisor to the seller and Mandelbaum Salsburg of Roseland acted as counsel to the buyer.
“We recognized the property’s flexible zoning, making the building ideally suited for a variety of uses, and the buildings visibility and accessibility on busy Route 80, coupled with Pine Brook’s outstanding infrastructure created a good buying opportunity. We were able to complete the sale quickly” commented Matthew Weiss. The property includes a dedicated ground floor entrance, full-service cafeteria and 550 car parking.