1 Kimberly Road in East Brunswick — Courtesy: Denholtz Associates
By Joshua Burd
Denholtz Associates has sold two fully leased flex properties in East Brunswick totaling 107,000 square feet, the Matawan-based real estate firm said Tuesday.
The buildings, located at 1 Kimberly Road and 10 Alvin Court, were sold to F. Greek Development, Denholtz said in a news release. The firm did not disclose financial terms.
Tenants at the two properties range from industrial to recreational, including Center Stage Dance Studio and Jumping Jungle Children’s Recreational Center, the news release said. The fully stabilized properties sit only an hour from New York City and have easy access to Route 18, with close proximity to Exit 9 of the New Jersey Turnpike.
“Our ability to stabilize and obtain full occupancy at both properties, coupled with the assets’ centralized location near major area highways and ample parking, made this pair of buildings highly attractive to potential buyers,” Steven Denholtz, CEO of Denholtz Associates, said in a prepared statement. “Through our investment strategy we were able to capitalize on our investment and sell the buildings to a qualified buyer.”
David Zimmel of Zimmel Associates was the exclusive broker representing both parties in the deal.
