The Goldstein Group Sells NNN Retail Property For $3.2 Million
PARAMUS, NJ. (OCTOBER 15, 2012) – President Chuck Lanyard of The Goldstein Group today announced the sale of 1199 Route 37 East in Toms River for $3.2 million. Berkeley Capital Advisors of North Carolina represented the seller, HNM Toms River LLC, and Gregory Panayoti of The Goldstein Group represented the buyer, Diversified Equities Corp.
This 10,205 sf building sits on 1.8 acres and is home to AAA Mid-Atlantic Car Care Center which offers AAA member services plus full service auto repairs. Formerly a Saturn of Toms River dealership, the property is located in the heart of the Route 37 retail corridor surrounded by national tenants and located at a traffic light intersection.
“This was a complex transaction involving several legacy environmental issues that needed to be addressed which we worked through to a successful closing,” said Lanyard. “This deal highlights the recent uptick in the market due to the availability of low interest loans and investors’ increasing appetite for NNN investment properties in prime areas”.
About The Goldstein Group
The Goldstein Group, New Jersey’s leading full-service commercial real estate brokerage firm, specializes in owner representation, retailer representation, investment sales and management services. The firm, founded in 1986, represents over 12,000,000 square feet of retail space and more than 50 national and regional retailers. The Company is the New Jersey member of the Retail Brokers Network. As an RBN affiliate, The Goldstein Group provides clients assistance throughout the United States with qualified retail specialists in over 60 offices nationwide.
For more information on the Retail Brokers Network, visit www.retailbrokersnetwork.com.
For more information, contact Chuck Lanyard, president and director of brokerage services, at 201-703-9700, or visit the Company’s website at www.thegoldsteingroup.com.