Cedar Knolls, N.J. – Newmark Associates announces the $1.5 million sale of a mixed-use property in Chatham to a New Jersey-based real estate developer. Helene Elbaum, Vice President and Sales Associate at Newmark, represented both the buyer and seller in an exclusive listing.

Ideally situated in the heart of a vibrant downtown Chatham, the three-story building, inclusive of a large parking lot, is within walking distance of the train station, banks, retail shops, restaurants, and municipal offices. Within close proximity to Routes 24, 78 and the Garden State Parkway, it is also near the Short Hills Mall.

“While it took some time to find the right buyer with an expansive vision for this property, the seller and I are excited about the future redevelopment of this prime location,” Ms. Elbaum remarked. The buyer developer envisions a street level retail unit, with apartments above, encompassing the entire half acre of the property.

Ms. Elbaum holds exclusive agency for Newmark at possible redevelopment sites also in Morris County, where a retail redevelopment site is available for sale in Dover at 242 Route 46 as well as 1.25 acres of land available for sale in Kenvil at 652 Route 46. In Passaic County, there is approximately 1.55 acres of land available for sale at 220-228 Berdan Avenue in Wayne. For more information on either of these properties, contact Ms. Elbaum at 201.320.3430.

Newmark Associates CRE, located in Cedar Knolls, New Jersey, has earned recognition as one of the top real estate brokerage companies by NJBIZ magazine, and the CoStar Commercial Real Estate organization.  Specializing in lease and sales transactions of office, industrial, retail, land, healthcare and mixed-use properties, Newmark Associates customers range from regional, entrepreneurial firms to Fortune 500 companies. Certified as a woman-owned business by the Women’s Business Enterprise National Council, Newmark Associates is registered as a Supplier Diversity provider with corporate members.