Light industrial building in Monroe fetches $3.8M, NAI Fennelly says

A two-story light industrial building located in Einstein’s Alley in Monroe Township – with connectivity to Routes 33 and 130, and 260 feet of frontage on the New Jersey Turnpike – has sold for $3.8 million.

NAI Fennelly, which represented seller Shima Seiki in the sale of the 27,863-square-foot building to Aplomb Technologies, announced the transaction on Feb. 8.

Jerry Fennelly and Matt Fennelly represented Shima Seiki.

Located at 22 Abeel Road, the building offers 19,512 square feet of office space and 8,351 square feet of warehouse space with one tailgate and one drive-in.

IT solution provider Aplomb Technologies recognized the location – and it’s adaptability – as the ideal spot for its new home, NAI Fennelly said.

“Home to hundreds of cutting-edge companies and leading research institutions like Princeton University, central New Jersey continues to be a highly attractive headquarters location for technology-focused service providers like Aplomb Technologies,” Jerry Fennelly said in a statement. “Powered by our decades of experience in the market, our team is proud to represent sellers like Shima Seiki to help them sell excess real estate and to secure fair market value for their assets in this competitive market.”

A manufacturer of computerized flat knitting machines and design systems, NAI Fennelly said Shima Seiki constructed and then occupied the building at 22 Abeel Road as its East Coast headquarters for 36 years. Looking to relocate to the West Coast, Shima Seiki sought NAI Fennelly’s services to sell its old space, and to secure a new, smaller location here, as well.

The company will continue to serve clients in the Northeast from a 5,000-square-foot flex space in the Stouts Business Park at 45 Stouts Lane in Monmouth Junction, under an NAI Fennelly-negotiated lease.