NAI Hanson Facilitate Sale of Prime Retail Land Along Route 46

Prototype of Advance Auto Parts store.

NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, today announced sale of a 1.1-acre land site at 1500 Route 46 West, just pass Troy Hills Village.

NAI Hanson Senior Vice President John Schilp represented the seller, 1500 Route 46, LLC, in the transaction. Rick Riccardi of NJ Commercial Realty Inc. represented the buyer, Advance Stores Company Incorporated, owner of Advance Auto Parts.

A source from Advance Auto Parts expects a September 26 grand opening date.

“Over the past few years, we’ve seen a significant uptick in the retail market in Parsippany,” Schilp said. “The lot sits in a highly trafficked retail corridor along Route 46, and has a lot of potential for redevelopment.”

Adjacent to the site to the west is Buffalo Wild Wings, and Troy Hills Shopping Center is located to the east.

Previously the location of a gas station, Advance Stores Company Incorporated has already started construction on a 10,000-square-foot Advanced Auto Parts store at the site.

The land on Route 46 is being cleared to make room for Advanced Auto Parts.