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.
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.