A private-public partnership has acquired 244 acres in Lebanon Township to preserve the space from future development.
NAI James E. Hanson announced the sale of the five parcels, which were marketed with the option to purchase collectively, that are currently occupied by Pelio Farms along Mount Lebanon, Sharrer and Turkey Top roads.
The partnership of the New Jersey Conservation Foundation, New Jersey Green Acres Program, Lebanon Township, Hunterdon Land Trust, The Nature Conservancy, Victoria Foundation, 1772 Foundation, Leavens Foundation and the New Jersey Water Supply Authority intends to link the newly acquired acreage to already preserved lands to create an almost 2,600-acre greenway, with plans to eventually open the space up to the public in the future, according to NAI.
The brokerage’s John Schilp and Sigmund Schorr represented both the buyers and seller, Earl Pelio, in the transaction.
Financial terms were not disclosed.