Ewing, N.J. (December 16, 2021) – Fennelly announces it has negotiated the sale of a 4,000-square-foot freestanding retail building located at 28 Scotch Road in Ewing, N.J. for $525,000. Jerry Fennelly, SIOR, President of Fennelly represented the seller, Paul Warren.
After selling his business located at 28 Scotch Road, the only thing preventing Paul’s full retirement was his need to sell the building. Paul conveyed this to Jerry, who leveraged his unmatched local network to quickly attract Hofing Management, LLC to come evaluate the opportunity and complete the sale.
28 Scotch Road is a single-story 4,000-square-foot retail building sitting in a highly visible location at the center of the new connection between Routes 29 and 295. The property features ample parking and its location enables easy access to Interstate 95. The building is currently fully occupied by Galls, a public safety equipment and uniform retailer who specializes in serving the needs of law enforcement, military, security, fire, EMS, and more.
Recognizing Fennelly’s unparalleled market knowledge of the Mercer County region, the seller tapped the full-service real estate solutions provider to secure a buyer for the property. Emblematic of the firm’s unmatched local relationships and hands-on approach to representation, Fennelly gauged the interest of Hofing Management, a commercial real estate firm that Fennelly represents throughout the region. Looking to expand their 2-million-square-foot national portfolio, Hofing Management agreed to purchase the building. By leveraging its local expertise and client-focused approach, Fennelly was able to quickly expedite the sale to create an ideal situation for both clients.
“While the regional retail sector remains challenging, the recent wave of new multifamily development in the Ewing area has created an ideal retail submarket,” said Fennelly. “This deal speaks to our firm’s deep market knowledge and our ability to provide both buyers and sellers with the insights and resources needed to accomplish their real estate goals. We are pleased to have helped Paul Warren in his planned retirement through this sale and to continue working with Hofing Management amid their portfolio expansion. We look forward to bringing more deals across the finish line for them in future.”