200 Industrial Way West in Eatontown — Courtesy: Zimmel Associates
By Joshua Burd
Denholtz Properties has acquired a nearly 70,000-square-foot industrial building in Eatontown, under a newly completed transaction by Zimmel Associates.
The brokerage firm announced that it represented Denholtz in its acquisition of the vacant property, 200 Industrial Way West, from an entity listed as Industrial Eatontown LLC. The building is the former home of a pharmaceutical company, Zimmel said, noting that its new owner plans to renovate the 8,500-square-foot office space within the complex.
Ray Musalo of Greiner-Maltz Real Estate and Joe Soos of Preferred Industrial Properties represented the seller of the freestanding, 68,500-square-foot building. David Zimmel and Jason Zimmel of Zimmel Associates represented the buyer.
“They are always in the market for an acquisition,” David Zimmel said of Denholtz, a client for more than 40 years. “We found this building in Eatontown, it was vacant, we showed it to Denholtz Acquisition LLC and a deal was consummated in 30 days.”
In a news release, Zimmel highlighted building features such as 24-foot clear ceiling heights, eight loading doors and air conditioning throughout. The property sits off Garden State Parkway Exit 105, with easy access to routes 18, 33 and 66.
Denholtz has also hired David and Jason Zimmel as its leasing agents for the building.
“We are extremely optimistic that a tenant will be found quickly due to the fact there are limited leasing opportunities for industrial space available in the area,” Zimmel said.
