Four Buildings Sell for Nearly $16M

FRANKLIN TWP., NJ-Harbor Group has acquired two one-story office buildings here for $12.4 million. Located at 110 and 120 Belmont Ave., the complex totals 112,000 sf Recently renovated, the two buildings are currently fully leased on a long-term basis by Federal Express, Royal Blue Financial, American Fibertek and Kali Laboratories.

Zimmel Associates of Edison, NJ brokered the sale. Seller Belmont Drive Associates was represented by principal, Jim Petrucci, and buyer was represented by principals Teddy and Jack Braha.

Fox and Foxx Development acquired a 9,000-sf office building at 910 Amboy Ave. in Edison, from Waltuma Inc. in a transaction valued at $1.5 million. The buyer will use the building as corporate offices and plans to expand the asset to include residential condominium units and retail stores. Zimmel also arranged the sale

For more than $1.8 million, 33 Randolph LLC purchased the 25,000-sf building at 33 Randolph Ave. in Avenel, NJ, from Nassau Development, The seller ws represented by principal Eric Berger, while the new owner, a distributor of electronic equipment, was represented by Lee & Klatskin Associates. The building sits on 1.65 acres. David Zimmel, the firm’s president, was responsible for all three transactions.