PARSIPPANY — 1280 Route 46, a 15,000 sq. ft. office building, and 1300 Route 46, an Outback Restaurant, were sold in a transaction that closed on December 21.
The sellers were two family investment groups with overlapping ownership, and the buyer was Shree Troy Hills, LLC, a major investor in Parsippany Commercial & Residential properties. The properties, situated on almost three acres, sold for a combined price of 4.2 million dollars.
Outback is has a triple-net lease and is not closing.
Kenneth Kaplan of KenKap Realty Corp. represented buyers and sellers.