BNH Affiliate Acquires Monmouth Shores Corporate Park from Mack-Cali
With its mix of office and flex space, the park provides flexibility with buildings that range in size from 20,000 to 80,000 square feet.
WALL TOWNSHIP, NJ— Monmouth 2, an affiliate of BHN Associates, purchased Monmouth Shores Corporate Park, an eight-building office/flex complex totaling 400,000 square feet in Wall Township, NJ, from Mack-Cali Realty Corporation. Terms were not disclosed.
Monmouth Shores Corporate Park is one of the largest business parks in the region and is situated along Campus Parkway, Wyckoff Road and Highway 34 in Wall Township. The office park was 88-percent leased to 24 tenants at the time of sale and includes five single-story flex assets and three office buildings.
Cushman & Wakefield’s NJ investment team members, including Andy Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Frank DiTommaso, represented the seller.
“Mack-Cali has done an exceptional job with the park, maintaining a high historical occupancy rate and catering to a diverse base of regional and national credits,” says Gabriel.
“Most notably, the park serves as home to Monmouth County’s largest employer, who has maintained a presence there for over 15 years and continues to expand,” DiTommaso says.
With its mix of office and flex space, the park provides flexibility with buildings that range in size from 20,000 to 80,000 square feet. The flex components of the park feature 22-foot clear height in the warehouses and a variety of dock-height and drive-in doors for loading capabilities.
Monmouth Shores Corporate Park is immediately off Route 33 and Highway 34, and is less than two miles from the Garden State Parkway.