2B — March 13 - 26, 2015 — New Jersey — M id A tlantic

Real Estate Journal


N ew J ersey 28,000 s/f located at 105 Oak Lane in Old Bridge, NJ Marcus &Millichap inks sale of an office building for $2.1m

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LD BRIDGE, NJ — Marcus &Millichap announced the sale

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of Executive Plaza, a 28,000 s/f office property situated in Old Bridge, NJ, according to Brian Hosey , regional man- ager of the firm’s New Jersey office. The asset sold for $2.1 million. David Thurston , a vice president investment together with Charles Loccisano , an associate, both in Marcus & Millichap’s New Jersey of- fice, had the listing to market the property on behalf of the seller, a partnership. “This property was sold to a user-

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Executive Plaza

investor who capitalized on the opportunity of a vacancy in an excellent building” said Loccisano. “In a rising invest- ment real estate market we are seeing a greater interest

in office investments as the multi-family, retail and in- dustrial products have already exceeded their values of the last boom market. The seller capitalized on this opportunity to bring the office building to market at this time” said Thurston Executive Plaza is located at 105 White Oak Lane in Old Bridge, NJ less than half a mile from Rte. 516 and min- utes from Rte. 9, Rte. 18 as well as the NJ Turnpike and the Garden State Parkway. The property had been well maintained with capital im- provements being made in the last 18 months that included a new parking lot, a new HVAC unit and a new roof making this investment one with little capital expenditures needed in the near future. n WELCO Realty places Cost Plus World Market in Shrewsbury, NJ SHREWSBURY, NJ — Cost Plus World Market, a division of Bed, Bath &Beyond has secured a new 15,000 s/f space at 490 Broad St., Shrewsbury. It is their second store in the New Jersey area (Monmouth County). They opened their first Northeast store in July 2014 at 530 W. Mt. Pleasant Ave. in Livings- ton (Essex County). Jerry Welkis , a principal of Welco Realty and David Townes , leasing agent of Welco Realty represented the landlord, MCP Associates, LP, in leasing the present Annie Sez store in Rt. 35 in Shrews- bury. They negotiated the deal directly with the tenant. n


Commercial Real Estate Brokerage

Lindenwold, New Jersey 148 Residential Units Scott Davidovic ext 290 Matt Weilheimer ext 253

Paterson, New Jersey 135 Residential Units - 3 Buildings Jonathan Greenberg ext 258 Joseph Keenan ext 256

Holmes and Morton, Pennsylvania 67 Residential Units - 3 Properties Matt Weilheimer ext 253

Lafayette, New Jersey 96,911 SF Retail Center Barry Waisbrod ext 272 Matt Weilheimer ext 253

Hummelstown, Pennsylvania 52 Residential Units Robert Holland ext 285

Dumont, New Jersey 21,645 SF Retail Janet Bortz ext 294

www.kislakrealty.com 732 750 3000 The Kislak Company, Inc. Investment Sales Commercial Sales and Leasing

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