By Joshua Burd
A private equity firm has acquired more than 50 acres in Monmouth County, under a newly announced transaction by Sheldon Gross Realty.
Brokers with the firm said the buyer, SJ Investment Holdings, paid an undisclosed price in the transaction on Vanderveer Road in Howell. Sheldon Gross Executive Vice President Jonathan Glick and Senior Vice President Glenn Jaffe arranged the deal on behalf of the seller, Hilton Management LLC, citing the parcel’s suitability for industrial space and its proximity to the Garden State Parkway and other area highways.
“With rapid access to all major roadways in the area, plus a wide range of buildout options, this location can ultimately become almost anything the new owner wants,” Glick said. “There an extremely high demand for warehouse space throughout central New Jersey, so this was a stellar acquisition by SJ Investment Holdings.”