By Joshua Burd
Two office condominium units in Holmdel have changed hands for a combined $925,000, in a set of deals arranged by Sheldon Gross Realty.
In the larger deal, Valvano Insurance Agency acquired a 3,000-square-foot space at 670 North Beers St. for $485,000, according to a news release. The second buyer, Staten Island-based pediatric physical therapy practice Leaps and Bounds, paid $440,000 for a same-sized unit.
Sheldon Gross Realty Executive Vice President Jonathan Glick and Assistant Vice President Matt Leonelli arranged the transactions. Jaime Zimmel of Zimmel Associates co-brokered the deal with Leaps and Bounds.
In a news release, Sheldon Gross noted that the Holmdel business complex includes four identical two-story buildings surrounded by a large parking area. Just a five-minute drive from the Garden State Parkway and Route 35, the complex is about a one-hour drive from Midtown Manhattan and less than 90 minutes from Center City Philadelphia.
“While insurance and physical therapy are very different businesses, it’s essential for both to be near and easily accessible to their customers,” Leonelli said. “That’s what made these two office condominiums such excellent options — the majority of Monmouth County’s 650,000 residents are less than 30 minutes away, with most of them much closer.”
