Lee & Associates – WBE, the regional operation of Lee & Associates, recently negotiated a $3.6 million sale of 383 Route 46, a 34,445-square-foot office property in Fairfield.
Peter Rasmusson, a partner with the commercial real estate services firm, represented the seller, the Glassman Family, and procured the buyer, Fairfield Real Estate LLC, in the transaction.
Built in the mid-1970s, the three-story building sits on 1.6 acres and has been owner-occupied since 1985. It serves as a local landmark, recognizable by its architecturally distinctive design with rounded corners and full-height glass curtain wall exterior.
“383 Route 46 is a unique office asset with exceptional access and visibility in one of suburban Essex County’s most desirable places to do business,” Rasmusson said. “The building’s features and ideal location were major draws for the buyer, which will continue the property’s tradition of owner occupancy. This offering was met with significant interest from a diverse group, including both investors and private players.”
Situated at the interchange of Route 46 and Hollywood Avenue, 383 Route 46 is strategically located within minutes of major roadways including interstates 80, 287 and 280 and Route 23. Its proximity to public transportation, hotels, restaurants, shopping and Essex County Airport add to its appeal.
