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RIPCO retained for sale of 138K-square-foot Monmouth County building

Move marks firm's Investment Sales team expansion into NJ

RIPCO Real Estate announced Nov. 22 that it is exclusively handling the sale of 250 Industrial Way W. in Eatontown.

The 138,163-square-foot property marks RIPCO’s Investment Sales team’s expansion into New Jersey. According to the firm, it expects proposals in the mid-$40 million range.

RIPCO said guidance pricing reflects an approximately 10% cap rate.

250 Industrial Way W. in Eatontown. - RIPCO REAL ESTATE

250 Industrial Way W. in Eatontown. – RIPCO REAL ESTATE

Sitting on 10 acres, 250 Industrial Way W. is a triple-net leased investment opportunity with no landlord responsibility, according to RIPCO. It houses a single tenant, SubCom, who has been at the property since 1999, and is comprised of a data center, office space, laboratories, storage, a cafeteria, two elevators and three loading docks.

RIPCO brokers involved with the assignment are Stephen Preuss, Kevin Louie, Kevin Schmitz and Matt Grundy.

“250 Industrial Way West is a high-quality, meticulously maintained building that we are confident will be an attractive offering for investors looking for a property in a diverse location that satisfies the demand for hands-off assets with a higher rate of return,” said Preuss, who is vice chairman at RIPCO. “It provides the ideal workplace placement, allowing for companies to build a stable and prosperous workforce.”

250 Industrial Way W. offers access to the Garden State Parkway, and Routes 18 and 35.

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Jessica Perry
Jessica Perry
Jessica is the managing editor and covers commercial real estate for NJBIZ.

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