Matawan, N.J. – Zimmel Associates, a leading commercial real estate firm is pleased to announce the successful sale of a 46,000 square foot, three story office building for $7.6 million. The property, built in 2008 by Denholtz Properties, is located at 14 Cliffwood Avenue in Matawan, N.J., featuring a large atrium, 24 hour access, 139 parking spaces, and 50 covered spaces.
Matawan is a popular town in New Jersey with a vibrant community and easy access to major cities like New York and Philadelphia. This highly desirable and sought after property in Middlesex County is located directly off the Garden State Parkway Exit 120, and close to all major highways.
Zimmel Associates has been the exclusive leasing broker since the building’s construction. In 2017, Zimmel sold the building as a 1031 exchange.
Due to corporate office relocation, the owners decided to sell the building. Exclusive Broker, Zimmel Associates aggressively marketed the building, seeking a user investor. David Zimmel came across White Star Logistics, which provides a range of supply chain management services, including transportation, warehousing, and distribution. They work with companies of all sizes across various industries to improve their logistics operations and reduce costs. Their services can include transportation management, order fulfillment, inventory management, and reverse logistics.
White Star Logistics purchased the building and will be occupying 4,000 square feet on the second floor. Zimmel Associates has been retained as the exclusive leasing broker going forward. A 5,000 square foot lease is pending on the ground floor.
“We are thrilled to have played a role in this significant transaction,” said David Zimmel, President and Co-founder of Zimmel Associates. “Our team worked diligently to find the right buyer for this property, and we are confident that the new owner will be successful in their plans for the building.”
The sale of this property is a testament to the strong demand for commercial real estate in the Matawan area and the expertise of the Zimmel Associates team. We look forward to continuing to serve our clients and help them achieve their real estate goals.
ABOUT ZIMMEL ASSOCIATES
Zimmel Associates is a full service corporate real estate brokerage firm that provides knowledge-driven real estate leasing, sales, consulting and property management services. Clients include owners, tenants, investors and developers. The firm is well known throughout New Jersey where they represent more than 5 million square feet of exclusive space. Zimmel Associates’ geographic scope also includes New York and Pennsylvania.