A 66,5000-square-foot, two-building Manalapan industrial complex was purchased by an investor for $4,960,000, Sheldon Gross Realty announced on Oct. 12.
The deal for 225 County Road 522 was brokered by Sales Representative Matthew Leonelli.
Sitting on more than 5 acres, the Manalapan property features two separate buildings, both of which have ceilings with heights between 16 feet and 22 feet.
Located in Monmouth County, the complex – which, at the time of the sale, was nearly 100% leased – is just a few miles from Route 9 and Route 33, and only a short drive from Exit 8 on the New Jersey Turnpike.
“For a commercial investor, this property represents an exceptional opportunity,” says Leonelli. “First, it’s almost entirely leased, which eliminates one concern buyers of industrial properties often face. In addition, the location is outstanding, with quick access to major roadways, Newark Airport, as well as Philadelphia and New York City.”
The property’s seller is a long-time client of Sheldon Gross Realty Executive Vice President Jonathan Glick.