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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.

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