Fennelly announces it has negotiated the sale of six acres of land at 3130 Route 206 in Columbus, N.J. Fennelly’s Jerry Fennelly, SIOR, represented the seller John & Irene Nyktas, in the transaction with Fun Communications. Raymond Jones of Century 21 Advantage Gold served as co-broker on the transaction.
Situated in northern Burlington County, 3130 Route 206 is an unimproved lot boasting 335’ of frontage on State Highway 206 with easy access to Interstates 95 and 295 as well as Exit 6 on the New Jersey Turnpike.
The former owner was hoping to utilize the sale of the asset to help fund their retirement and tapped Fennelly to identify a buyer for the property. Building on its adaptability and approvals for a variety of retail, office and medical uses, Fennelly procured a buyer and helped its client maximize the value of the asset despite it being sold as is without approvals in place.
“As more and more Baby Boomers look at retirement, the robust market seen for assets like vacant land across New Jersey provides an ideal capital generation tactic,” said Fennelly. “We were happy to work with our client to help them create value from this in-demand asset to achieve their personal financial goals.”