10B — May 12 - 25, 2017 — Central New Jersey — M id A tlantic

Real Estate Journal


C entral N ew J ersey Transit-oriented development brings new residential, retail and office space options to Red Bank

Denholtz Associates unveils plans for The Rail @ Red Bank Station

R edBank, NJ — Den- holtz Associates , a privately held, fully integrated real estate de- velopment, investment and management company, has unveiled plans for The Rail @ Red Bank Station, a rede- velopment project that will transform a 30,000 s/f office building located at 116-118 Chestnut St. and an adjacent vacant lot at 101-107 Oakland St. into a transit-oriented mixed-use development in the heart of Red Bank. Denholtz Associates recently acquired the property and vacant parcel

The Rail @ Red Bank Station

of land from 120 Centennial Properties, LP in a joint ven- ture with MB1, LLC. Adjacent to the Red Bank train station on New Jersey Transit’s Jersey Coast Line with direct service to New

York City and Hoboken, The Rail @ Red Bank Station will mark a dynamic reposition- ing of the property providing an opportunity for Red Bank to stay competitive with the generation of residents who

want to work, live and play all within their communities. De- signed by renowned architect Jim Monteforte , the two- phase project will include 45 new luxury residential units and a complete renovation of

the existing office property to create a modern and unique workspace that will attract employees and tenants alike. The planned luxury multi- family community will consist of two, three-story towers with a contemporary, upscale look totaling 45 rental units. Ranging from 1-3 bedroom apartments each will include a 70 s/f balcony. A two-level onsite parking garage will provide access to Chestnut St. and Oakland St. An open-air courtyard with turf and seat- ing areas will be constructed between the towers to offer residents an opportunity to unwind and socialize with their neighbors. A café is also planned at the property offer- ing convenient food service for those on-the-go. The loca- tion is also within walking distance of a wide array of dining, shopping and enter- tainment options in downtown Red Bank. The Rail @ Red Bank Station will offer future residents of all generations an easily accessible and modern living experience. “We have been planning our Red Bank project for quite some time and the purchase of the office building and ad- jacent land parcel opens up an exciting new chapter for Den- holtz Associates,” said Steven Denholtz , CEO of Denholtz Associates. “We have always pursued projects that, not only add value to our portfolios, but also contribute in a positive and lasting way to the com- munities where they are lo- cated. We are looking forward to enthusiastically beginning work on The Rail @ Red Bank Station and creating a place that offers residents access to all that Red Bank has to offer from dining and shopping to theater and the arts just out- side their doorstep.” The renovation of the com- mercial building is expected to be completed later this year. Residential construction is slated to start this fall with an estimated completion in late 2018. n

View From Floodgate Road

View From the corners of Floodgate Road & Route 44

View From Route 44

72 ACRES - PRICED TO SELL! Floodgate Road, Logan Township • Gloucester County, New Jersey

• Close proximity to Philadelphia • Easy Access to the Commodore Barry Bridge • Located on Route 44, only a half mile from I-295 & Route 130 • R-5 Zoned

411 Feheley Drive • King of Prussia, PA 19406-2657 • GableSid@Yahoo.com 610.272.6400 All information furnished is from sources deemed reliable and is submitted subject errors, omissions, changes, prior sale or withdrawl without notice and to any special listing conditions. Areas and dimensions may be approximate.

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