NAI Mertz’s Jonathan Klear and Fred Meyer Complete $5.2 Million Three-Building Investment Sales Transaction in Manalapan, New Jersey
NAI Mertz, a leading full-service commercial real estate firm conducting business throughout the United States, and globally, from its regional offices in New Jersey, greater Philadelphia and northeastern Pennsylvania, recently announced that senior vice president Jonathan Klear, along with executive vice president Fred Meyer, SIOR, recently completed the sale of 100, 200 and 300 Craig Road located within Century Office Park in Manalapan, New Jersey. Totaling approximately 78,000 square feet of office space, the properties were sold to a local investment buyer for $5.2 million.
“This is the second transaction we have completed on behalf of this seller in just a short 12-month timeframe,” stated Klear. “At NAI Mertz, we take great pride in cultivating relationships with our clients and work diligently to provide informed market insights so as to enable them to make the best decisions,” he added.
Klear and Meyer also delivered several new tenants to the properties thus increasing occupancy to 70% prior to concluding the sale.
Located off of Route 9, these two-story office buildings have newly renovated lobbies and parking for more than 300 cars. Nearby amenities include many shopping and dining options.
“In addition to completing this portfolio sale, we are pleased to have leased space to new tenants and making this a more attractive deal to the buyer,” added Meyer. “Monmouth County is continuing its growing popularity as a destination for business, tourism and residents alike, and we are glad to be bringing investors and new companies to the area,” he concluded.
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About NAI Mertz
Founded in 1980, NAI Mertz is a leading full-service commercial real estate firm conducting business throughout the United States, and globally, from its regional offices in New Jersey, greater Philadelphia and northeastern Pennsylvania. The company provides expert services in brokerage, leasing, sales, investments, property management, site selection and construction management in the industrial, office and retail sectors. NAI Mertz’s clients include Fortune 500 companies, financial institutions, private investors, large public corporations and small businesses. Its partnership with NAI Global, a top 5 commercial real estate brand, enables the firm to provide large-scale global real estate services. NAI Mertz has been recognized as Office of the Year for NAI Global selected from a pool of 400 NAI offices. NAI Global comprises more than 7,000 commercial real estate professionals and manages over 425 million square feet of space.
For more information on NAI Mertz, visit its website at www.naimertz.com, or 800.520.7139.