Denholtz Acquisition, LLC Purchases 200 Industrial Way West, Eatontown, NJ.
David Zimmel and Jason Zimmel of Zimmel Associates, handled the sale of 200 Industrial Way West, Eatontown, NJ, a 68,500 sq. ft. one-story free-standing industrial building on 4.5 acres.
The seller, Industrial Eatontown LLC was represented by Ray Musalo of Greiner-Maltz Real Estate and Joe Soos of Preferred Industrial Properties. The purchaser, Denholtz Acquisition LLC was represented by David Zimmel and Jason Zimmel, a client of Zimmel Associates for over forty years. “They are always in the market for an acquisition,” says David Zimmel. “We found this building in Eatontown, it was vacant, we showed it to Denholtz Acquisition LLC and a deal was consummated in 30 days.”
The building was formerly occupied by a pharmaceutical company. It offers many desirable features, including 24 ft. clear ceiling, 8 loading doors and 8,500 sq. ft. of first-class office space. The building is also well-landscaped and 100% air-conditioned. The new owner has recently upgraded the building, which includes all new exterior office glass and repainting of the inside and outside of the building. It is ideally located off the Garden State Parkway at exit 105, with easy access to Route 18, Route 33 and Route 66.
In addition to selling the property, David Zimmel and Jason Zimmel were hired by the purchaser Denholtz Acquisition LLC to lease the building exclusively. “We are extremely optimistic that a tenant will be found quickly due to the fact there are limited leasing opportunities for industrial space available in the area,” says David Zimmel.
Denholtz Acquisition LLC plans to redo the office space within the building. The building lends itself to being divided to suit various sizes. For example, a tenant could lease 40,000 sq. ft. and the remaining balance of 28,500 sq. ft. can be leased to another tenant.
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. Our clients include owners, tenants, investors and developers. We are well known throughout New Jersey, where we represent more than 5 million square feet of exclusive space. Our geographic scope also includes New York and Pennsylvania.