Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WALL TWP., NJ-Monmouth Investors I LLC, an affiliate of Red Bank, NJ-based Bollerman Development Corp., has acquired a 12.9-acre tract of land within Allaire Corporate Campus. The seller was Commercial Realty and Resources; the purchase price was not disclosed.

The new owner has also filled an existing 35,000-sf building on 4.73 acres within the parcel, signing Dialight Corp. to a lease for the whole building. Dialight, a unit of the UK-based Roxboro Group, produces circuit boards, instrument panels and LED displays. The facility will serve as its North American headquarters.

Monmouth Investors I also has all necessary approvals in place to develop up to 74,000 sf of space on the remaining 8+ acres involved in the latest purchase, although no project timeline has been announced. The 12.9-acre purchase is part of a 31-acre site, for which Monmouth Investors I has developed a master plan totaling 244,000 sf of class A office and flex space.

Monmouth Investors I’s financial partner in its ongoing transactions at Allaire Corporate Campus is Riveroak Investment Corp. The investment banking firm is based in Stamford, CT.

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?

Dig Deeper


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.