CBRE announced Wednesday it sold a vacant property that originally housed a Pathmark grocery store in Jefferson Township for $1.8 million.
Site to be redeveloped into a multi-service medical office center
“The new owner was attracted to the asset due to its ideal location at a traffic light with frontage on Route 15 South and the opportunity to redevelop the site for medical use to service the growing Jefferson Township/Sparta region,” said Mallaney. “When the project is completed, it will be a central location servicing the entire North Morris, Lake Hopatcong and Sussex County area.”
The new owner, 757 Route 15 Realty LLC, plans to redevelop the property located at 757 Route 15 into a multi-service medical office center.
Situated on eight-acres, completion is anticipated for the summer of 2020.
The CBRE team of Thomas Mallaney and Denise Kokulak represented the buyer in the negotiations with the seller, Jefferson Sebastian-Parsippany LLC.
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