NORTH PLAINFIELD, NJ-Weichert Commercial Brokerage senior vicepresident Barry Feldman recently completed the sale of a48,165-square-foot retail building at 559 US Highway 22 here here.Feldman represented both the buyer and seller in thetransaction.
A private buyer purchased the two-story building from Ray’sSport Shop Inc., which has owned and operated the building since1971. According to Weichert president John Udell, the deal wasunder contract since March 2007, while the buyers waited to receiveapprovals to demolish the building and construct an auto servicefacility.
The buyers plan to erect a 19,629-square-foot service center aspart of an expansion of the neighboring Nissandealership. Although the firm declined to provide the salesprice, published reports have placed it at $4.65 million, or $97per square foot.
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