Property Type: Land
Site Size: 12+/- Acres
Buyer: Bruce Paparone Development, Inc.
Seller: Quaker Group Burlington II, L.P.
Broker: Jeffery Lucas, Director of Business Development
In the first of several land sales since summer 2020, Rose Commercial Real Estate Director of Business Development, Jeffrey Lucas, represented both parties in the sale/purchase of 12 acres of vacant land on Bancroft Lane in Hainesport, New Jersey. The well-known new home builder Bruce Paparone Inc. was looking to expand its presence with another single family home subdivision in Burlington County and the site situated between Route 38 and Creek Road offered easy access amid other communities. As part of the negotiation, Lucas worked hand-in-hand with the township to shift the commercial office zoning to one that would allow for residential housing. The firm also represented the seller Quaker Group Burlington in the transaction, which closed on June 30, 2020 at a sale price of $1,359,400.