A lease agreement may be in place by as early as December for the restoration and reuse, possibly for commercial purposes, of 32 mostly vacant buildings at the former Fort Hancock on the Sandy Hook peninsula of northern Monmouth County. Because the site is within the Gateway National Park, the US National Park Service is in charge of putting the buildings on the market.

Last spring, the NPS picked Wassel Realty of nearby Red Bank, NJ to put together a plan to redevelop the buildings, many of which are in disrepair. They were erected by the US Army between 1878 and 1941. A number of environmental and educational groups occupy some of the space, but the NPS is looking for a revenue stream from the properties.

The structures include the famous yellow-brick officers row residences, plus a number of service buildings spotted throughout the sprawling site.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.