260 and 270 Industrial Way West in Eatontown — Courtesy: Devli Group
By Joshua Burd
A joint venture has taken control of a fully leased, two-building office complex in Eatontown.
The firms, Devli Group and Aspen Realty, announced recently that they have taken title to the complex at 260 and 270 Industrial Way West. The move follows the joint venture’s acquisition of the note on the 129,632-square-foot property last November, giving way to a foreclosure process that was just completed.
The net leased complex consists of a main 100,272-square-foot building and an additional 29,360-square-foot building sitting on eight acres.
“When you have the opportunity to ultimately acquire a fully leased asset in a great location at well below replacement cost, you take it,” said Erol Devli, Devli Group’s founder and CEO. “Our team is very pleased with the acquisition and is excited about adding this property to our growing portfolio.”