Mid Atlantic Real Estate Journal — New Jersey — May 10 - 23, 2013 — B


C entral N ew J ersey

Sheldon Gross Realty, Inc. Monmouth County – Moving forward after Sandy


onmouth County and the New Jersey shore area was left reeling

office, medical, daycare, bank, religious and more. • A 6,800 square foot office building for sale or lease inWall Township. This property can be expanded to 14,000 s/f and is ideally located on Route 34. • A former Hostess Thrift Store location in Neptune City is available for lease. This is a 20,838 square foot building located on Route 35 across from the Neptune City Shopping Plaza. • A flex building with a unit of 15,299 s/f which is divisible

in sizes of 5,000 or 7,500 s/f for lease. Also available for lease is a second unit of 8,910 s/f. This building has a distinctive image in a corporate park set- ting with an ideal location off Route 34. Monmouth County is ranked 38th among the highest-income counties in the United States as of 2011. The large number of highly educated profession- als living in the county makes it an ideal location for compa- nies looking for highly trained employees and corporate head-

quarters locations. Sheldon Gross Realty, Inc. has built an outstanding repu- tation for integrity, perfor- mance and innovation for more than four decades. The firm is known for its long-term client relationships, high percent- age of repeat business and 95 percent success rate in leasing or selling each property assign- ment it undertakes. Sheldon Gross Realty provides a full array of services, including office, industrial and retail brokerage, tenant representa-

tion, property management and consulting. The firm’s in-house research department is enhanced by Sheldon Gross Realty’s own trademarked mar- ket analysis system, Site-ology. Through its two offices in West Orange and Wall Township, New Jersey and its affiliation with The Society of Industrial and office Realtors (SIOR) and the Counselors of Real Estate (CRE), Sheldon Gross Realty is able to service its clients’ needs on a local regional and national scale. n

from Hurricane Sandy. While many areas were left unscathed almost all businesses were af- fected by the power outages which struck the State. The efforts for recovery by many businesses basically put the market in a holding pattern for several months. Companies were consumed by the need to play catch up for the time and business lost from the storm and most companies seemed to put their plans for real estate on hold. The vacancy rate for Mon- mouth County both for indus- trial and office space increased during the 1st quarter of 2013 over the previous quarter. Ac- cording to CoStar, a leading commercial real estate informa- tion company, the industrial rate rose from 8.7% to 9% and the office rate rose from 15.5% to 16.3%. The good news is that it finally appears that during March and April the activity in the market began to pick up. Businesses are again look- ing to move or expand in the Monmouth County area. This is demonstrated by an increase in the number of transactions which have been or about to be closed in the County. Some of the notable transactions include: • The sale of the Garden Sate Executive Center in Middle- town was completed in April. This is a 287,806 square foot Class A office building. • The former Crown Beer Distribution facility located in Wall Township and comprising approximately 118,000 s/f on 18.29 acres is under contract. The inventory of properties for sale or lease currently offers those looking for new locations a wide variety of options. With the vacancy rate high it is a per- fect time for companies to find the right property at the right price to suit their needs. Sheldon Gross Realty is cur- rently marketing properties throughout Monmouth County. Some of these include: • Approximately 47 acres for sale in Wall Township. The property has all approvals and is ready for development. • 9,800 square foot building for lease in Cliffwood Beach. This property has flexible zon- ing and can be used for retail,

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