10 — August 2024 — Central New Jersey — M id A tlantic Real Estate Journal
www.marej.com
C entral N ew J ersey
Marc Shein & Robert V. DiLeo broker $5.5M Deal for Sam Ash Properties Corp. NAI DiLeo-Bram represents seller of 21,929 s/f retail center in Middlesex County, NJ
E
Sam Ash Properties Corpora- tion. The unnamed buyer is an out-of-state grocer of culturally
joined NAIDB in 2014. “Follow- ing the competitive bid process, the buyer’s offer was accepted and closed quickly.” Shein attributes the high lev- el of interest from both inves- tors and users to the property’s excellent four-way intersection location and Rte. 27 [Lincoln Highway] frontage. Situated on 1.29 acres, the busy corner- retail property features two buildings: one that is 13,769 s/f plus basement and was delivered vacant and another that includes three fully rented units totaling 8,160 s/f. There is ample parking for 64 passenger vehicles as well as proximity to a NJ Transit bus stop, Edison Station and an abundance of highways, including I-287, US Rte. 1, NJ Rte. 18 and I-95. According to DiLeo, the prop- erty is at an important regional business-corridor crossroads with a multicultural popula- tion, extremely favorable de- mographics and high vehicle- traffic counts. “When combining Rte. 27 and Plainfield Avenue alone, the parcel records a 50,000+ per-day vehicle count and is at the heart of a densely populated, high-income area,” he said. Nearby retailers include a host of local, regional and national dining and retail es- tablishments, including Costco, Dunkin, Papa Johns, Wells Fargo, HSBC Bank, Citizens Bank, Pizza Hut, Kumon, Meineke, Verizon, Burger King, TD Bank, 7 Eleven, Paris Baguette. In the transaction, the buyer was represented by ReMax First Realty. This is the second retail sale in recent months for Shein and DiLeo, who also orchestrated the $8.55M sale of a 69,750 s/f supermarket-anchored retail center on behalf of the seller in nearby Middlesex. MAREJ Denholtz Properties announces 2,500 s/f lease at The Rail at Red Bank RED BANK, NJ — Den- holtz Properties announced the opening of Filoncino Cafe at The Rail at Red Bank, a 57-unit mixed-use community located adjacent to the Red Bank train station.. Filoncino Cafe’s opening marks the latest chapter in Den- holtz Properties’ transformative vision for Red Bank’s West Side neighborhood. MAREJ
DISON, NJ — NAI DiLeo-Bram & Co. (NAIDB) has arranged
diverse foods with plans to establish a New Jer- sey flagship location. “ I dea l l y suited for a user/investor, we identified a wide range
the $5.5 mil- lion sale of a 21,929 s/f re- tail center lo- cated at 1825 Rte. 27 in the Middle- sex County township of Edison. The firm’s broker -
Marc Shein
Robert V. DiLeo
of potential buyers as part of our customized property- offering strategy,” said Shein, a 35+ year industry veteran who
age team of Marc Shein , se- nior vice president, and Robert V. DiLeo , associate vice presi- dent, represented the seller,
1825 Rte. 27
DEPENDABLE REAL ESTATE SOLUTIONS Celebrating more than 85 years of offering
based on knowledge, experience and vision
For more information, please visit: naidb.com
Commercial Real Estate Services, Worldwide. Since 1937.
Made with FlippingBook Online newsletter maker