Progress Realty Partner Acquires 5.5 Acres Commercial Property In Whippany For $7.3M

The commercial property located at 60 S. Jefferson Road in Whippany has been sold for a total price of $7,325,000. The property spans across 5.5 acres and offers a total square footage of 37,000. The sale price per square foot amounted to $198. The transaction took place on 02/04/2022.

Summary of transaction details

• Property Type: Commercial
• Transaction Amount: $7,325,000
• Address: 60 S. Jefferson Road, Whippany
• Market: Whippany
• Acres: 5.5

The buyer of the property was Progress Realty Partner, while the seller was Tulfra Real Estate, represented by Sonny Jumani. The transaction was facilitated by brokers Alan Cafiero and Mark Gjonbalaj from Marcus & Millichap. ConnectOne Bank, with Leo Faresich as the lender, provided the necessary financing for the deal.