Kislak Company senior vice president Barry Weisbrod brokered the sale of 106 Apple Street, Tinton Falls, NJ
TINTON FALLS, NJ—New York-based investor Apple Street Holdings has acquired 106 Apple Street in Tinton Falls, NJ, a 132,272 square-foot office building, for $14.25 million.
The Kislak Company marketed the property on an exclusive basis on behalf of the seller, Reidhass, a longtime client. Kislak senior vice president Barry Waisbrod handled the assignment and procured the purchaser.
The multi-tenanted office building consists of two attached structures on a 10.4-acre site. One side includes a three-story building with 67,272 square feet built in 1971. The other side includes a two-story building with 65,000 square feet built in 1986. Together, the attached structures total 132,272 square feet. The gross leasable area is 124,671-square-feet.
“The purchaser believes strongly in the central New Jersey market for multi-tenanted office space and this building's close proximity to the Garden State Parkway and major metro areas made it very attractive,” says Waisbrod.
At the time of closing, the building was approximately 89% occupied.
Both structures have appealing features inclusive of many windows allowing for abundant natural light, newly renovated restrooms, newly carpeted and painted common areas, large, beautiful lobbies, a brand new fitness center, more than 550 parking spaces and an outdoor seating area. Other amenities include on-site management, janitorial services, major mailing and delivery service drop boxes, and multiple sources of high speed internet connectivity.
With easy access to major highways, the buildings are situated on the eastern side of Monmouth County, just off Exit 109 on the Garden State Parkway within 30 minutes' drive of Newark-Liberty International Airport and approximately one hour from New York City and Philadelphia.
Tinton Falls is an expanding market with a growing population located in the heart of Monmouth County, which is home to state-of-the-art communication and utility networks, making it a prime choice for large corporations, innovative startups, tourism, entertainment and retail businesses.
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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].
