August 2026

24 — August 2026 — Central New Jersey — M id A tlantic Real Estate Journal

www.marej.com

C entral N ew J ersey Property attracts 20 bidders and achieves 118% of reserve price Colliers arranges the sale of a 100%-leased Asbury Park retail asset via online auction

SBURY PARK, NJ — Colliers , a lead - ing diversified profes - sional services and investment management company, has successfully facilitated the auction sale of 1105-1109 Memorial Dr. in Asbury Park. The ±11,926 s/f retail prop - erty, fully leased to Monmouth County Habitat for Humanity, attracted significant investor interest through a competitive online auction process. Colliers vice chair Jack- lene Chesler, senior VP Pat- rick Norris , and transaction manager Brittany Leventoff

Jacklene Chesler

Patrick Norris

Brittany Leventoff

exclusively marketed the property in partnership with Apex Commercial Ex- change , a premier online auction platform. The auction drew 20 reg - istered bidders and gener - ated strong competition,

ultimately achieving a final sale price of $1.89 million at a 6.9% capital - ization rate, representing 116% of the reserve price. The result underscores continued investor de - mand for well-located,

1105-1109 Memorial Dr.

income-producing assets in growth-oriented markets. The property was acquired

by Sigman Real Estate Partners , a prominent owner and investor in Asbury Park, further expanding the firm’s presence in the market. Located along Memorial Drive in the heart of Asbury Park, one of New Jersey’s fast - est-growing coastal communi - ties, the property is occupied by Habitat for Humanity’s Monmouth County ReStore under a triple-net lease. The asset features approximately 139 feet of frontage and is situ - ated just blocks from the city’s downtown and waterfront. The surrounding area con - tinues to benefit from sub - stantial redevelopment, with more than 1,700 residential units completed, under con - struction, or planned. Com - bined with ongoing invest - ment, a thriving entertain - ment scene, and convenient access to NYC, Asbury Park remains an attractive desti - nation for commercial real estate investment. “The strong bidding activ - ity and sale result demonstrate continued investor confidence in net-leased retail assets and the long-term growth story of Asbury Park,” said Chesler. “Receiving participation from 20 registered bidders and achieving a sale price of 116% of the re - serve highlights both the quality of the asset and the strength of the current investment market.” The transaction marks Col - liers’ fifth completed sale in Monmouth County in recent months, further demonstrating the firm’s continued momen - tum throughout the region. Recent transactions include 197 Hance Ave. in Tinton Falls, 303 Broad St. in Red Bank, 2 East Main St. in Freehold, and 149 West Main St. in Freehold. Colliers is also currently mar - keting a fully approved 52-unit multifamily development op - portunity via online auction, with bidding scheduled for August 24-26, 2026. MAREJ

Considering Selling?

1105-1109 Memorial Drive, Asbury Park, NJ CLOSED VIA AUCTION

Cap Rate: 6.9% Occupancy: 100% Type: Retail

118% of Reserve Price

30 Tours

99 CAs

CURRENT OPPORTUNITIES FOR SALE

200 Park Avenue, Freehold, NJ ±1.47 Acres

450-460 Veterans Drive, Burlington, NJ ±63,000 SF

53 Frontage Road, Hampton, NJ ±288,000 SF

2121 US Highway 22, Bound Brook, NJ ±33,000 SF

AUCTION

RENDERING

“SHOVEL READY” 52- UNIT DEVELOPMENT SITE

VALUE-ADD FLEX

VALUE-ADD OFFICE

VALUE-ADD MEDICAL OFFICE

Patrick Norris Senior Vice President 973 299 3010 patrick.norris@colliers.com

Brittany Leventoff Transaction Manager 732 734 0709 brittany.leventoff@colliers.com

Jacklene Chesler Vice Chair 973 299 3083 jacklene.chesler@colliers.com

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