fbpx

Rose CRE negotiates $4.59M retail sale in Hazlet

14 Route 36, Hazlet. - ROSE COMMERCIAL REAL ESTATE

14 Route 36, Hazlet. – ROSE COMMERCIAL REAL ESTATE

Marlton-based Rose Commercial Real Estate President Adam Rose recently represented Universal Building & Construction Inc. in the purchase of a 14,112-square-foot retail property located at 14 Route 36 in Hazlet.

The transaction between Universal Building Construction Inc. and seller, Heidenberg Properties Group, closed on Oct. 11, 2019 at a purchase price of $4,592,000.

The buyer is an experienced investor who had specific criteria including the purchase of a 1031 exchange property with long-term tenants, a good cap rate and high net operating income.

In addition to being home to CVS Pharmacy and Best Buy Liquors, the fully-leased property features a hard corner intersection on Route 36 and a traffic count of more than 29,000 cars per day.

 

Linda Lindner
Linda Lindner covers real estate and is the managing editor for NJBIZ.

NJBIZ Business Events

Business of the Year Awards

Tuesday, December 10, 2019
Business of the Year Awards

Women In Business: A 2019 NJBIZ Symposium

Tuesday, December 17, 2019
Women In Business: A 2019 NJBIZ Symposium

Best 50 Women in Business Award Program

Tuesday, March 24, 2020
Best 50 Women in Business Award Program

Best Places to Work 2020

Friday, May 01, 2020
Best Places to Work 2020