Mid Atlantic Real Estate Journal — New Jersey — December 6 - 19, 2013 — B
www.marejournal.com
N ew J ersey
Fairfield Corporate Park, Fairfield, New Jersey
dison, NJ — David Zimmel , president, Zimmel Associates E 1031 Like-Kind Exchange for One Ethel Road, Edison Zimmel Associates arranges 58,000 s/f sale totaling $6 million
FOR LEASE 32,000 Square Foot Industrial Building
brokered the o f f -ma r k e t sale of One Ethel Rd. in Edison, NJ, for more than $6 million. One Ethel Rd. is a 58,000 s/f office build-
* Warehouse/Manufacturing * 6,000 Square Feet Office – Can be reduced * 20 Ft Ceiling Height / 4 Tailgate Doors / 60+ Car Parking * Attractive rental rates and terms available.
S HELDON GROSS REALTY, INC. REALTORS Ɣ Corporate Real Estate Services 80 Main Street, West Orange, NJ 07052 Tel.#973-325-6200 - Fax.#973-325-9090 E-mail: sgross@sheldongrossrealty.com
David Zimmel
ing located in DurhamCenter, a five building, 200,000 s/f office complex situated between New York and Philadelphia off of I-287. The buyer, Fox and Foxx Development , is an Edison, based commercial and residen- tial real estate development company. The principals asked Zimmel to locate an investment property in a specific price range for a 1031 Exchange. Zim- mel represented Fox and Foxx and the seller, New Durham Associates in the transaction. “A 1031 exchange allows sellers to defer taxes on the sale of real estate held for busi- ness or investment purposes, if they re-invest in like-kind property within a certain timeframe,” said Zimmel. “It allows investors to hold on to profits and build their prop- erty portfolios.” The owners of Fox and Foxx compliment Zimmel’s service and capabilities. Steven Fox said, “David is a well respected leader in central New Jersey commercial brokerage, with extensive market knowledge and long-term relationships with building owners and developers in the tri-state re- gion.” Robert Foxx adds, “He presented a great opportunity for us in a timely manner and negotiated a deal that worked for all parties.” Zimmel was the leasing agent for the former owners of the 8- unit building, which was 100 percent leased at the time of the sale. Fox and Foxx is converting One Ethel Rd. into office con- dominiums. ZimmelAssociates continues to serve as agent for the building. “We have just sold two 5,000 s/f units to existing tenants and anticipate that a 3,000 s/f unit will become available soon,” said Zimmel. “All of the units have private entrances, separate HVAC and are conveniently located near access to the Garden State Parkway andNew Jersey Turnpike.” n
One Ethel Rd.
1,600,000 SF
To Be Built Dayton, NJ (732) 287-4880
Lease with the
Market Leader
205 Mill Road, Edison NJ 08837 (732) 287-4880
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