JLL said Jan. 25 it completed the sale of 265 Industrial Way West, a flex facility in Eatontown on behalf of Montero Realty Services, a subsidiary company of HAP Marketing Services Inc.
HAP Marketing Services Inc., provides marketing, public relations, trade show support and logistics services, sought to consolidate its business operations.
The 36,500 square foot property in excellent condition features 9,000 square feet of office, 27,500 square feet of warehouse, two loading doors, and is conveniently located off Route 35 near the Garden State Parkway and Route 18.
Peter Ladas, senior vice president, and Gary Politi, senior vice president, with JLL represented the seller and Andy Rudoff, principal of Resource Realty Inc. represented the buyer in this transaction.
“When we decided to pursue the lease or sale of our facility, we made the decision to have JLL represent us based on their reputation and involvement in our marketplace. We relied heavily on the insights and guidance provided by Peter Ladas and the JLL team,” said Christian Fernandez, CEO and president of HAP Marketing Services.
“Due to the increase in market demand to own flex space, buyers showed a willingness to pay a premium for the property. We ultimately were able to identify the right buyer for the property, to whom the facility provided added value,” said Ladas. “At the same time, we were able to secure a favorable, long-term lease at a build-to-suit facility nearby that ideally met HAP Marketing’s consolidated space requirement.”
