Commercial Real Estate News in Monmouth County
A $40 million Commercial Deal Closes June 15th in Monmouth County
According to sources at Treetop Companies the news of the purchase of 4 commercial industrial buildings in Wall, in Monmouth County, was completed on June 15th, 2023. The total amount of sale was for $40.5 million, where much of the space will be converted from offices to warehouse space.
CBRE Investment Properties negotiated the transaction, leveraging the continued strong demand for industrial product in the market.
Due to the high office vacancy rate in Monmouth County and those surrounding locations, the demand for the conversion of empty space into industrial continues to grow, according to NAIOP. The coastal proximity of the sites also lent to their value.
The properties include those located at 1324 Wyckoff Road, 1433 State Route 34, 1340 Campus Parkway, and 1345 Campus Parkway. The tenants for such properties include AWP Safety; Garden State Tile; Surf and Fire Security; Lightspeed Technologies; and DPF Data Services.
The properties range in size from 20,000 to to 80,000 square feet.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single-family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.
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