3440 Route 9 in Freehold — Courtesy: The Kislak Co. Inc.
By Joshua Burd
A private investor has purchased a nearly 26,000-square-foot retail and warehouse property in Freehold for $5.8 million, according to a brokerage team with The Kislak Co. Inc.
The property, 3440 Route 9, drew interest thanks to a tenant roster that’s anchored by Sherwin-Williams and other triple-net tenants with built-in rental increases, Kislak said. It’s also recently improved and benefits from strong frontage and visibility on one of central New Jersey’s most heavily traveled commercial corridors.
The brokerage firm’s Daniel Lanni represented the seller and procured the buyer of the fully occupied, 25,845-square-foot property.
“This sale highlights the importance of staying committed to your clients beyond a single listing cycle,” said Lanni, a senior vice president with Kislak. “I initially met the owner years ago, and although we were unsuccessful in achieving a sale at that time, we maintained the relationship and continued to monitor the market. When the property was reintroduced, we leveraged strong investor demand, created a competitive environment and successfully brought the transaction to closing with a 1031 exchange buyer. Deals like this demonstrate that consistency, market knowledge and long-term relationships remain the foundation of successful investment sales.”
According to a news release, recent capital improvements to the site include a new thermoplastic polyolefin roof, five new HVAC units, a renovated façade with new windows, doors, signage and monument sign, as well as extensive site upgrades. Improvements to the grounds include a new dumpster enclosure, sidewalks, landscaped islands, upgraded lighting and enhancements to both the front and rear parking areas.
Kislak noted that Freehold continues to attract investor interest due to its location within Monmouth County, strong demographics and convenient access to major transportation routes throughout central New Jersey. Properties offering stable tenancy, long-term lease structures and recent capital improvements are still among the most desirable investment opportunities in the region, the firm said.
