The Kislak Co. Inc. recently sold three commercial properties adding up to a cumulative $2 million and representing more than 21,000 square feet.
Handling the sales for the Woodbridge firm was Sales Associate Max Levinston, who also procured the unnamed buyers for each property. “The demand for commercial real estate investment properties in central New Jersey has been astounding,” he said in a May 10 announcement of the sales.
Located at 128 Lincoln Blvd. in Middlesex, Friendly Self Storage is a 15,000-square-foot self-storage facility with 72 units. It sold for $1.1 million. According to Kislak, the property was built in 1947 and renovated in 1997. Sitting on 0.44 acres, the location is near a heavily trafficked street within 1 mile of more than 375 apartments.
According to Levinston, there were more than a dozen offers from local, regional and national investors for the Middlesex County property. “The seller sold the property after owning and managing it for more than 20 years in a market with an extremely high demand for self-storage investments,” he said.
In Somerset County, a 3,000-square-foot office building built in 1989 and situated on 0.29 acres sold for $480,000. Located at 38 N. Gaston Ave., the location offers seven private offices, kitchenettes on each floor, a basement for tenant storage and parking for 14 cars.
Kislak said the property was vacant at the time of sale.
Over in Manville, a 3,045-square-foot corner retail building at 345 N. Main St. traded hands for $468,000. The single-story property was previously a Verizon store, but sold vacant.
Levinston received Kislak’s Rising Star award in 2022 for his accomplishments the year before; the recognition is bestowed to a newer salesperson with the greatest achievements in the past year.
Earlier this week, Kislak announced the sale of a portfolio of multifamily properties in Elizabeth for $50 million.