6B — August 10 - 23, 2018— Central New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
C entral N ew J ersey
Parker Partners LLC, and senior vice president Matt Weilheimer , represented the Sales Associate Justin Lupo and S.V.P. Matt Weilheimer Arrange Off Market Sale Kislak Sells Quail Creek Shopping Center In Howell, N.J. for $4.4 million H OWELL, NJ — The Kislak Company, Inc. announced the
purchaser, 630 Grove Street LLC. Commen t - ing on the cur- rent market trend and on the interest of 630 Grove
$4.43 million off-market sale of the Quail Creek Shop- ping Center, a 52,000 s/f mixed shop- p i ng c ent e r w i t h o f f i c e
Justin Lupo
Matt Weilheimer
Street LLC, a long-time owner over 20 years, Lupo remarked: “The sale of Quail Creek rep- resents the continued de- mand for investment prop- erties of all asset classes in
space located at Ramtown- Greenville Rd. and Newton’s Corner Rd. in Howell, Mon- mouth County. Sales associate Justin Lupo represented the seller,
Quail Creek Shopping Center Section 1031 Exchange for which Kislak was able to as- sist in identifying a property.”
today’s market.” Weilheimer commented, “The purchaser needed to complete an I.R.C
Both Lupo and Weilheimer added, “We moved quickly to closing in order to satisfy the exchange.” The commercial property is a strip mall consisting of the original center with ap- proximately 44,000 s/f and an adjacent addition of 7,800 s/f within a two story, fully sprinklered building equipped with a state-of-the-art HVAC system. An atrium leads to of- fice suites on the second floor which can also be accessed by two elevators. Offices have nine-foot ceilings. At 65% occupancy, the shop- ping center is comprised of a mix of restaurants, medical of- fices and service-oriented ten- ants with ample parking. The property is located less than a mile fromGarden State Pkwy. exit 91 and within a half mile of Rte. 195 exit 31A, within close proximity to New Jersey shore towns, Philadelphia and Wilmington, DE. Future plans for the proper- ty include upgrading the spac- es and leasing the remaining retail and office suites. Lupo joined Kislak in 2014, was the recipient of the firm’s 2015 Rookie of the Year award and is one of its rising stars with recent investment sales totaling $200 million. He specializes in the sale of mul- tifamily and other investment properties in central New Jer- sey and eastern Pennsylvania. Weilheimer joined Kislak in 1996 and is consistently among the firm’s leading salespeople. He specializ- es in the sale of apartment buildings, REO assets and other investment properties in New Jersey, New York, Delaware and Pennsylvania. Weilheimer has won numer- ous sales production awards including the firm’s 2010 and 2015 Production awards. The Kislak Company, Inc., which is headquartered in Woodbridge.
Investment Sales | Commercial Sales and Leasing
FOR SALE Elizabeth, NJ
FOR SALE Long Branch, NJ Land Approved for 169 Luxury Units plus Clubhouse with Employee Unit Joni Sweetwood ext 273
64 Residential Units Robert Holland ext 285
Rendering
FOR SALE Hoboken, NJ
FOR SALE Trenton, NJ
7 Residential Units Scott Davidovic ext 290
50,980 SF Retail Barry Waisbrod ext 272
FOR SALE South Brunswick, NJ
FOR SALE Cherry Hill, NJ
2.27± Corner Lot Matt Weilheimer ext 253
45,683 SF Office Barry Waisbrod ext 272
The Kislak Company, Inc. | www.kislakrealty.com | 732 750 3000
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