PARSIPPANY, NJ — A New Jersey-based trucking company has purchased 3.4 acres of land to transform the property around its existing Parsippany building into a new facility.
H.K. Truck Center paid $3.68 million for the lots at 10-30 Fanny Road, according to commercial real estate firm NAI James E. Hanson, who negotiated the sale. The property is located at the corner of Intervale Road and Fanny Road, near Route 202 with close proximity to several major transportation outlets.
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The company plans to tear down the existing buildings, and redevelop the property into a state-of-the-art truck repair facility.
Based in South Plainfield, H.K. Truck Center is a dealership for commercial truck parts, service, rental, leasing and sales.
The company’s current Parsippany location, a 15,818-square-foot maintenance building, is at 10 Fanny Road. There is a residential building between H.K. Truck Center and The Music Shop that also appears to be part of the parcel.
NAI James E. Hanson’s Michael Walters, SIOR and Cameron Silverstein represented the seller HFC Holdings, LLC in the sales negotiation with H.K. Truck Center.
“With the limited supply of space available for redevelopment in Morris County and the surrounding area, we are thrilled to have helped our client secure fair market value while allowing a tenant to continue operating their business at the space,” said Walters. “We look forward to continuing our work with our client, HFC Holdings, and wish H.K. Truck Center all the best going forward.”
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