NAI Hanson Brokers 244-Acre Land Sale to Conservation Groups
A public-private partnership of conservation groups has acquired 244 acres of land along Mt. Lebanon Road in Hunterdon County, NJ’s Lebanon Township to preserve it from future development.
NAI James E. Hanson’s John J. Schilp and Sigmund Schorr represented both the buyers, which included the New Jersey Conservation Foundation and the New Jersey Green Acres Program, and seller Earl Pelio. Terms were not disclosed.
The five land parcels were listed separately, with the option to purchase together. The property, which features open and wooded land along Mount Lebanon, Sharrer and Turkey Top Roads, has been eyed by preservation groups for years and they recognized that this was the right time to make the purchase.
“As real estate development continues to move west and north in the state, we continue to see preservation groups show interest in acquiring and protecting high-quality land like this from development,” said Schilp.
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