The Kislak Company, Inc. sells Flemington business center for $4.8M

Senior VP Daniel Lanni arranges sale of 15,232 s/f complex

Flemington, NJ — The Kislak Company, Inc. announced the recent sale of a mixed-use business center with medical and retail spaces at 194 State Route 31 in Flemington, Hunterdon County, New Jersey, for $4,825,000.

Kislak marketed the property on an exclusive basis with senior vice president Daniel Lanni handling the assignment on behalf of the seller, P-2 Real Estate Associates, LLC, and he also procured the purchaser, which was not disclosed.

Lanni commented, “This was a highly competitive process in which we worked relentlessly to position the property in a way that maximized value for the seller. Given strong interest and multiple offers, we secured an all cash buyer at a price that exceeded the initial market indicators. Achieving this result without financing contingencies provided certainty to the seller of a fast and efficient closing.”

Built in 2006, the 15,232 s/f two-story, complex houses a bank, and three medical facilities with all tenants on NNN leases, thereby allowing the landlord a more stable income while giving tenants control over property-related expenses. Features of these well-maintained spaces include carpeted and tiled flooring, ample window light and abundant parking at a ratio of five per 1,000 s/f.

Located just north outside of the downtown area of the quaint and active town of Flemington, the building has high visibility fronting State Highway 31, across the street from the Hunterdon Medical Center, and is minutes away from I-78, Flemington Circle, Route 202 and Route 22.

Daniel Lanni joined Kislak in 2010 and is consistently among the firm’s leading producers. He specializes in the sale of multifamily and other investment properties in central New Jersey with a particular focus along the Jersey Shore. He was the recipient of the firm’s 2011 Rookie of the Year Award and was promoted to a senior vice president in 2019.