31,418 sq. ft. leased in Eatontown, NJ to package hand sanitizers for the government.
EATONTOWN, NJ – Zimmel Associates, handled the sale of 200 Industrial Way West, Eatontown, NJ, a 68,500 square foot, one-story, free-standing industrial building on 4.5 acres to Denholtz Acquisition LLC.
During the next few months, Denholtz completely renovated the building, from removing warehouse contents to painting the walls, ceilings, columns, and floors. Unfortunately, life changed as COVID-19 emerged. In the midst of the coronavirus pandemic, Zimmel came across Steron Packaging, who is based out of Eatontown, NJ and recently entered into a contract with the government to package hand sanitizers.
The building features 24-foot ceiling heights, good tailboard loading and heavy power, along with a clean environment – freshly painted and with epoxy floors. Steron Packaging came in and loved the building, which only needed a minor alteration – office space to be built out.
Denholtz Acquisition LLC, represented by Zimmel Associates and Steron Packaging, who was represented by Sitar Realty, entered into a 10-year lease. Denholtz Acquisition LLC was able to secure permits immediately for the tenant because they are providing an essential service for the government. They were then able to quickly take occupancy. “Considering the challenges in this environment and the conditions in the marketplace, we were thrilled to find a tenant providing an essential service for the government”, says David Zimmel. “The space was perfect for them, everyone was happy.” Zimmel Associates is currently marketing the remaining 37,000 sq. ft., which can be leased as one unit, or divided into a 12,000 sq. ft. unit and a 25,000 sq. ft. unit. Zimmel is confident it will be filled quickly.
ABOUT ZIMMEL ASSOCIATES:
Zimmel Associates provides personalized commercial brokerage services to local, regional and national clients who want to sell, lease or purchase properties. Our exceptional market knowledge ensures maximum exposure for our exclusive client properties and complete availability information for tenants seeking properties. If you have a property for sale or lease, or if you are looking for a property, please visit us at www.Zimmel.com.
