Zimmel Associates, a leading commercial real estate firm in New Jersey, has announced the successful sale of two adjacent buildings located in Clark, NJ, for over $11 million. The two free-standing buildings are situated on Terminal Avenue, and the sale includes 133 Terminal Avenue and 159 Terminal Avenue.
The buildings, which were among several buildings in the area owned by Denholtz Properties, are 100% air-conditioned with gas heat and heavy power. They are well-landscaped with ample parking. Both properties are strategically located in Clark, a highly desirable area for commercial real estate due to its proximity to major highways – directly off exit 135 on the Garden State Parkway with access to Routes 1, 9 and the New Jersey Turnpike, and transportation hubs.
133 Terminal Avenue is a 41,247 square foot building that sits on 5 acres of land. It features a mix of office and industrial space, with three loading docks, and a clear ceiling height of 16 feet to 16 feet, 11 inches. The 159 Terminal Avenue property is a 34,106 square feet warehouse and distribution center on 2.14 acres. It features three loading docks and a clear ceiling height of 17 feet 3 inches. Both buildings are currently leased by Loreal USA through July 2024, at which time they will relocate to the Loreal USA Headquarters’ new addition across the street.
Zimmel Associates, once receiving the assignment to sell both buildings, initiated their marketing plan, which resulted in securing a buyer, an undisclosed client of Zimmel Associates, within two weeks. The purchaser, who had previously acquired a neighboring building from Zimmel Associates several years back, approached David Zimmel. The buyer’s interest in the deal was sparked by their satisfaction with the adjacent building they acquired earlier, along with having Loreal USA as its tenants. This ultimately contributed to the immediate and successful closure of the transaction.
“We are thrilled to have facilitated the sale of these two outstanding properties on behalf of our client,” said David Zimmel, President of Zimmel Associates. “Our team worked diligently to market the properties and attract qualified buyers, ultimately securing a deal that was a win-win for all.”
Zimmel Associates will be the exclusive agent responsible for marketing and leasing the highly sought-after buildings once available, which will begin as the new year approaches. This marks a unique opportunity for businesses looking to expand their footprint and establish a presence in the vibrant and growing neighborhood. It is anticipated that the properties will generate considerable attention and entice diverse businesses from various industries, as they have the option to retain their current office and laboratory areas or opt for a restoration of warehouse space by means of demolition.
Interested parties are encouraged to contact Zimmel Associates at (732) 661-9200 or visit their website at www.zimmel.com for more information about the properties, and to schedule a tour of the buildings. Zimmel Associates looks forward to working with potential tenants and helping them achieve their business goals in this prime location.
ABOUT ZIMMEL ASSOCIATES:
Zimmel Associates has been providing comprehensive commercial real estate services to clients for over 30 years. Their team of experienced professionals offers a wide range of services, including leasing, sales, property management, and consulting. The firm’s commitment to excellence and their focus on delivering personalized solutions has earned them a reputation as one of the most trusted names in commercial real estate in New Jersey.