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.
Rose Commercial Real Estate is a full service commercial real estate firm, specializing in all facets of the industry — representing buyers and sellers, landlords and tenants as well as investors both big and small. Key to our growth is experience combined with in depth understanding of the South Jersey real estate market. But that alone is only a part of the comprehensive service we provide clients. With our unique CIRCLES FOR SUCCESS and start-to-finish commitment, we make things happen.