Sale of 14,112 SF Investment Purchase of Fully Leased Retail Center in Hazlet, NJ
14 Route 36, Hazlet, NJ
Property Type: Retail Building
Site Size: 14,112 SF
Buyer: Universal Building & Construction, Inc.
Seller: Heidenberg Properties Group
Broker: Adam Rose, President
Details: Adam Rose, President at Rose Commercial Real Estate, represented Universal Building & Construction, Inc. in the purchase of a 14,112 square foot retail property located at 14 Route 36 in Hazlet, New Jersey. The buyer is an experienced investor who had specific criteria including the purchase of a 1031 Exchange property with long-term tenants, a good cap rate and high net operating income. In addition to being home to CVS Pharmacy and Best Buy Liquors, the fully-leased property features a hard corner intersection on Route 36 and a traffic count of more than 29,000 cars per day. The transaction between Universal Building Construction, Inc. and seller, Heidenberg Properties Group, closed on October 11, 2019 at a purchase price of $4,592,000.
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