14 Route 36 in Hazlet — Courtesy: Rose Commercial Real Estate
By Joshua Burd
An investor has acquired a freestanding retail property in Hazlet for nearly $4.6 million, Rose Commercial Real Estate announced Wednesday.
The brokerage firm said it represented Universal Building & Construction Inc. in its purchase of 14 Route 36, a 14,112-square-foot property. The firm acquired the asset from Heidenberg Properties Group for $4.592 million, Rose Commercial said, noting that its tenants include CVS Pharmacy and Best Buy Liquors.
Rose Commercial Real Estate President Adam Rose completed the assignment. The deal came as part of a 1031 exchange by the buyer.