The larger site, 5.7 acres, was acquired from Changebridge Associates LLC. It had already been approved for a 54,000-sf office and warehouse building, but will now apparently be used for recreational purposes, with a skating rink being discussed as a possibility. The sale price was $1 million.
The nearby smaller site, some 2.2 acres, will be preserved as open space. Terms of the sale and the name of the seller were not disclosed. As part of the deal, the seller has agreed to reduce the size of a proposed office building on an adjacent tract from 50,000 sf and two stories to 25,000 sf and one story.
"Morris County has the most active open space program in the country, and Montville is the most active in Morris County," says Ronald Soussa, vice president of Delaware Hudson Realty. "The purchase reflects the township's commitment toward reducing sprawl and the resulting demand for municipal services."
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