6B — April 23 - May 20, 2021 — New Jersey — M id A tlantic Real Estate Journal
www.marej.com
N ew J ersey
Wisniewski arranges sale of warehouse & manufacturing facility Kislak Commercial sells industrial property in Whitehouse Station, NJ for $3.9 Million
c i a l Rea l Estate Ser- vices, Inc. announced the re cent s a l e o f a 4 4 , 3 0 0 s / f i n d u s t r i a l property for $3.9 million. W
said Wisniewski. ‘Demand drivers include the historic rise in e-commerce sales trig- gered by the pandemic and the insatiable need for additional warehouse space. Zoned ROM-2 for research, office or manufacturing, the building sits on 13.1 acres of well-manicured landscaping with on-site parking for 40 cars. Offering tailgate and drive-in loading, the building is currently under renovation with an expansion of office space. Its infrastructure is very compatible with current and future uses, which plan on housing new headquarters for The Nicholson Corporation, a regional commercial construc- tion company. Located one-quarter mile south of Rte. 22 and a 10-min- ute drive to Rte. 78, the prop- erty is also easily accessible to Rte.s 202, 206, and I-287. The Kislak Company, Inc. announced the recent sale of a 13-unit multifamily property at 407 8th Avenue in Asbury Park, Monmouth County for $2.3 million. Kislak marketed the prop- erty on an exclusive basis with senior vice president Daniel Lanni handling the assign- ment, and he also procured the purchaser, 407 Asbury, LLC. Lanni commented, “We sold this property to the seller in 2018 and in less than three years following unit renova- tions and increased rents, the seller realized a $600,000 profit and a record price.” The $176,923 per unit price is the highest price per unit achieved in Asbury Park since 2006 according to data avail- able from CoStar. Built in 1940, the three- story brick building has two studios, eight one-bedroom units and three two-bedroom units, which have been up- dated with hardwood floors throughout, all new stainless steel kitchen appliances and granite countertops along with renovated bathrooms. Ameni- ties include on-site laundry facilities. Walking distance of four blocks to the beach and Deal Lake just one block away; short drives to nearby Allaire State Park and Thompson Park, Jen- kinson’s Aquarium, and other local attractions along with a major music scene and film festivals of Asbury Park make this an attractive location for residents. MAREJ
H I T E H O U S E STATION, NJ — Kislak Commer-
Peter Wisniewski handling the assignment on behalf of the seller Palumbo Realty, LLC , which is led by Gary Palumbo . Wisniewski also procured the purchaser 27 Ridge Road, LLC, on behalf of Brandon Nicholson. Palumbo is a longtime client of Mr. Wisniewski’s and this sale marked their fifth transaction together. “The property was in con- tract only three days after Kislak listed it, and the speed at which it sold is consistent with the continuing surge in demand for available industri- al properties in New Jersey,”
Peter Wisniewski
The property is located at 27 Ridge Rd., Whitehouse Sta- tion, Hunterdon County. Kislak marketed the prop- erty on an exclusive basis with executive vice president
27 Ridge Rd.
EXCLUSIVE PROPERTIES FOR SALE
Roselle, NJ 17 Units Jeff Squires ext 246
East Orange, NJ 80-Unit Portfolio Joni Sweetwood ext 273
Roselle, NJ 27 Units Jeff Squires ext 246
Manasquan, NJ 11 of 48 Condominiums Scott Davidovic ext 290 Michael Kossak ext 240 Tom Scatuorchio ext 255
Roselle, NJ 16 Units Jeff Squires ext 246
Summit, NJ 10 Townhomes Joseph Keenan ext 256
The Kislak Company, Inc. | kislakrealty.com | 732 750 3000
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