22 Abeel Road in Monroe — Courtesy: NAI Fennelly
By Joshua Burd
A manufacturer has sold a nearly 28,000-square-foot light industrial building in Monroe Township for $3.8 million, under a deal arranged by NAI Fennelly.
According to the brokerage team, the two-story property at 22 Abeel Road served as Shima Seiki’s East Coast headquarters for 36 years. But the manufacturer of computerized flat knitting machines and design systems put the building on the market after opting to shift its operations, prompting the sale to Aplomb Technologies.
NAI Fennelly’s Jerry Fennelly and Matt Fennelly represented the seller, noting that the 27,863-square-foot facility has 260 feet of frontage on the New Jersey Turnpike and connectivity to routes 33 and 130. Inside, the property has 19,512 square feet of office space and 8,351 square feet of warehouse space, with one tailgate and one drive-in.
Shima Seiki also tapped NAI Fennelly to secure a new, smaller location in the market, ultimately leasing a 5,000-square-foot flex space at 45 Stouts Lane in Monmouth Junction, which will service the company’s clients throughout the Northeast. The company is also shifting its main headquarters to the West Coast.
The buyer of the Monroe property, Aplomb Technologies, is an IT solution provider for companies across the IT, financial, telecom, health, retail, manufacturing, insurance and media sectors.
“Home to hundreds of cutting-edge companies and leading research institutions like Princeton University, central New Jersey continues to be a highly attractive headquarters location for technology-focused service providers like Aplomb Technologies,” Jerry Fennelly said. “Powered by our decades of experience in the market, our team is proud to represent sellers like Shima Seiki to help them sell excess real estate and to secure fair market value for their assets in this competitive market.”
