NEPTUNE, NJ-Brokerage firm HFF reports it has brokered the sale of Signature Place, a 25.37-acre, fully approved multi-housing development site here.
HFF marketed the property on behalf of a partnership between Highview Homes and Chase Partners. The property sold for an undisclosed amount free and clear of debt to an unnamed buyer.
The site is located at 3660 Route 66, south of Corporate Drive and west of Jumping Brook Road just off Exit 100 on the Garden State Parkway. Once completed, the development will include 272 luxury apartment units, 8,142 square feet of retail space and parking. Current plans include community amenities, such as a 3,792-square-foot clubhouse with fitness center, outdoor swimming pool, tot lots, rain garden, picnic area and two free-standing parking garages.
The HFF investment sales team that represented the seller in the transaction was led by Managing Director Kevin O'Hearn, along with Senior Managing Director Jose Cruz and Marc Duval, a real estate analyst.
According to O'Hearn, “HFF is pleased to have played a role in this transaction. The buyer is getting a fully-approved, extremely well-located site that will be developed into one of the top Class A apartment communities is Monmouth County.”
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