Newmark Associates, Inc

Real Estate Weekly, Jan 5, 2000

Susanne Newmark, president of Newmark Associates, Inc., has reported that. Bill Cunningham, vicepresident, has closed the sale of a. 67,000 square-foot building in Parsippany, NJ. Cunningham rep-resented the buyers in this transaction. The sale price was $2.1 million. The requirement was a difficult assignment to fill, as the building had to be zoned retail but also have the ability to serve as a cost-effective furniture warehouse.

Cunningham found. a building that straddled-the border of Denville and Parsippany which had been vacant for four years and saw the possibility for repositioning its use. The facility, located at 2980 Route 10, was formerly occupied by the Arrowhead Tennis Club, and - after approvals from both municipalities, the new owners are converting the building to operate a retail furniture business with warehousing on-site.