OLD BRIDGE, NJ-Denholtz Associates has acquired a 2.7-acre development site here and is set to build a new 53,000-sf office building. The seller was Kara Homes.

“With the lack of new construction in the marketplace, coupled with strong demand for space, we are confident this new class A office building will experience significant leasing activity,” Steve Geltzeiler, director of leasing for Denholtz, tells GlobeSt.com. Geltzeiler is handling the leasing assignment with sales associate David Zaro. The sale price of the site was not disclosed.

Dubbed Metropark South II, the building is being marketed for multi-tenancy, according to Geltzeiler. Slated for completion in about one year, the building is near Denholtz’s Metropark South I, a 130,000-sf office building that is 100% leased. Both assets are near Exit 120 of the Garden State Parkway. “We look forward to building our presence in the Exit 120 submarket on the foundation of these two assets,” Geltzeiler says.

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?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



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 © 2024 ALM Global, LLC. All Rights Reserved.