WALL TOWNSHIP, NJ—Sitar Realty Company - TCN Worldwidehas brokered the $5.3 million sale of a 26 acre industrial property that formerly housed Point Pleasant Beer Distributors. That works out to about $56 per square foot.
The buyers, 287 Route 34 Landlord and Madison Exchange (as Ql for 475 Oberlin Avenue South and Jackson Commercial and Industrial Properties) acquired the parcel from Wardell Family LLC. Steve Richel of Richel Commercial Brokerage marketed the property.
The tract includes two buildings, a 101,318 square foot warehouse, that has nearly 4,000 square feet of office space and a 2,500 mezzanine, and a separate service shop with about 4,000 square feet and another 800 square foot mezzanine, Robert JanTausch, Sitar Realty's broker on the deal, tells GlobeSt.com exclusively.
The buildings occupy about 12 acres of the site, and the other 14 acres are already zoned and developable for industrial uses, says JanTausch.
The new owners have acquired the property as an investment and are marketing it for a single tenant or possibly for multiple tenants, JanTausch says.
The property has a 102kW roof-mounted solar energy system, ceiling heights ranging from 20-24 feet, three drive-in doors and six loading docks. The original building was constructed in 1981, and was expanded twice. Onsite parking can accommodate 109 cars, 56 trucks and eight vans.
| The property is on Route 34 less than two miles from the Garden State Parkway, and also has excellent access to Routes 35, 71, 33, 195, 70, 9 and 18. |
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
