NAI Hanson Brokers Deal to Preserve 224 Acres in Lebanon Township, NJ
"We continue to see preservation groups show interest in acquiring and protecting high-quality land like this from development," says NAI Hanson's John J. Schilp.
LEBANON TOWNSHIP, NJ—NAI James E. Hanson arranged the sale of 244 acres of land along Mt. Lebanon Road in Lebanon Township, NJ that preserves the tract from future development and creates a greenway of nearly 2,600 acres in northern Hunterdon County.
NAI James E. Hanson’s John J. Schilp and Sigmund Schorr represented the buyers, New Jersey Conservation Foundation, New Jersey Green Acres Program, Lebanon Township, Hunterdon Land Trust, The Nature Conservancy, Victoria Foundation, 1772 Foundation, Leavens Foundation and the New Jersey Water Supply Authority, and the seller, Earl Pelio, in the transaction.
The buyers created a public-private partnership to acquire the land to preserve it from future development and link existing preserved lands to create the greenway. The acquisition perfectly aligns with missions of each organization and will help ensure that these pristine lands can be enjoyed for generations to come.
The five land parcels were listed separately with the option to purchase together. The property, which features open and wooded land along Mount Lebanon, Sharrer and Turkey Top Roads, has been eyed by preservation groups for years that recognized that this was the right time to make the purchase.
Currently occupied by Pelio Farms, the acquisition will ensure that the land can be preserved and eventually opened to the public for passive recreation activities such as hiking, bird watching, mountain biking, cross-country skiing and nature observation.
“When dealing with property of this size and a public-private partnership of this complexity, it is crucial for a commercial real estate brokerage to deliver superior customer service to ensure that a fair and mutually beneficial deal can be negotiated on behalf of both the buyer and seller,” says Schilp. “As real estate development continues to move west and north in the state, we continue to see preservation groups show interest in acquiring and protecting high-quality land like this from development. We were honored to work with the buyers and seller in this transaction to guarantee that this land can be enjoyed by the public for many years to come.”