4B — May 15 - 28, 2020 — New Jersey — M id A tlantic Real Estate Journal
www.marej.com
N ew J ersey
Prime Properties in South Jersey Available For Lease
EST ORANGE , NJ — The Kislak Company, Inc. an- Senior VPWeilheimer manages exclusive transactions Kislak completes sale/partial lease-back of 48,000 s/f MOB W
INDUSTRIAL 1815 ROUTE 130 BURLINGTON, NJ
nounced the recent sale and partial l ease back of a 48,000 s/f medical/ office build- ing at 622 Eagle Rock Ave. in West Orange, Essex County.
25,959 sf Warehouse Space includes 147 sf Of fice Area 24’ – 28’ Clear Height , 400 Amp Electric High-Density Sprinkler System, 1 Drive- In and 9 Tailgates Direct immediate access to NJ Turnpike Exit 6A and the PA Turnpike Connector
Matt Weilheimer
856-764-2600 | www.whitesellco.com Commercial Office & Industrial Real Estate
Kislak represented the seller, New York Community Bank, a longtime client, on an exclusive basis with senior vice president Matt Weilheimer handling
622 Eagle Rock Ave.
Built in 1988, the three- story, multi-tenanted, class B medical/office building had multiple suites ranging in size from 700 s/f to 4,040 s/f at the time of marketing. “We were retained on an exclusive basis and were able to lease three suites and then complete the sale of the property. The de- mand for medical space inWest Orange is very strong,” said Weilheimer. Current tenants have occu- pied the building on an average of over 10 years, with JAG One Physical Therapy being a ma- jor tenant along with Garden State Community Bank. The well-maintained property was owned and managed by the former landlord for 12 years. Located near the intersection of Eagle Rock Ave. and Pleas- ant Valley Way, the property is situated west of the down- town in one of West Orange’s four distinct neighborhoods which have become increas- ingly suburban in the last 10 years. Nearby, JP Morgan Chase Bank, Regal Bank and Valley National Bank have branches in an area with an already strong, local employ- ment base. Less than 20 miles from Manhattan, the property has convenient access to Rtes. 280 and 287, the Garden State Pkwy. and the New Jersey Tpke. Mitch Katz , represented the purchaser, 622 Eagle Rock Avenue Realty . Weilheimer joined Kislak in 1996 and is consistently among the firm’s leading salespeople. He specializes in the sale of apartment buildings, REO assets and other investment properties in New Jersey, New York, Delaware and Penn- sylvania. He has won numer- ous sales production awards including the firm’s 2010 and 2015 Production awards.
the assignment.
P o s k a n z e r S k o t t A r c h i t e c t s 550 North Maple Avenue, Ridgewood, NJ 07450 201.445.2322 www.poskanzerskott.com
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