Newmark Knight Frank (NKF) on Monday said it sold 3600 Route 66 in Neptune to Aspen Real Estate and Devli Real Estate in a joint venture for $26 million, on behalf of the building’s current owner, Mack-Cali Realty Corp.
Representing Mack-Cali are NKF Executive Managing Director Steven Schultz and Managing Directors Tony Georgiev and Adam Silver.
The office property is a four-story, Class A building that totals 188,408 square feet. It is located off the Garden State Parkway on Route 66, which is accessible from a variety of roads. It also has access to retail, cultural and entertainment destinations, such as the Jersey Shore Premium Outlets and Seaview Square Shopping Center.
It sits on 14.6 acres and is currently 100 percent leased to four globally-recognized tenants.
“This property presented a great opportunity for the Aspen-Devli team to add a best-in-class, energy-efficient trophy asset,” said Schultz. “The market, which has 5.8 million square feet of Class A office space, has seen an 8.8 percent increase in average asking rent over the last two years, in addition to positive net absorption.”