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Currently at 96% occupancy, the buildings are located in a densely populated adult and residential area of Monroe Township, offering very favorable demographics for tenants.
The building owner and a cigar shop that wanted to open are suing each other, claiming the other didn't live up to its obligations under the lease for the historic property.
Class A buildings in proximity to NJ Transit train stations remained on the radar screen for office occupiers with space requirements. More than 95.0% of the leases completed during the first half of 2019 were concentrated in Class A buildings.
During a recent competitive bidding process, Cushman & Wakefield conducted tours with more than 15 potential buyer groups and received multiple offers for 1 Gatehall Drive.
In this EXCLUSIVE, SVMG's Michael Shields discusses the hiring of Chip Trimmier and Ting Liu, the downsides to rent control, the benefits of multifamily investing and the influence of international investors.