FREEHOLD, NJ – It’s a brand new building that’s already twoyears old, and now is being leased, as DTAK Realty LL and ProcidaFunding LLC have named CB Richard Ellis as the exclusive leasingagent for Freehold Commons, a 40,378-square foot class A officebuilding at 83 South Street here.

The three-story project combines a historic setting nearFreehold Borough's downtown, with new construction. At first, thedevelopment was delayed as the local historic review boardnegotiated with the original developer. Later, the mostly completedbuilding went through a number of ownership changes, and wasrecently finished, according to CBRE's Suzanne Macnow, first VP,and Patricia Riedel, senior associate. Now the challenge is tolease the project in notoriously difficult western MonmouthCounty.

Because of its location to the west, Freehold often is the lastmarket to fill up in good economic times – and the first to emptyout during recessions, she adds. “In Monmouth, most tenantsare from Monmouth and they circle around,” Macnow tellsGlobeSt.com. “There’s no movement.”

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