2 Claire Road in East Brunswick — Courtesy: Sheldon Gross Realty
By Joshua Burd
An investment group has acquired a 41,500-square-foot retail and warehouse property in East Brunswick, in a deal announced Thursday by Sheldon Gross Realty.
The brokerage firm said HSJE Realty purchased the facility at 2 Claire Road, which is home to three tenants that each use the space for both warehouse and retail functions. The property is just off the New Jersey Turnpike’s Exit 9 and immediately adjacent to Route 18.
Terms were not disclosed.
Sheldon Gross Realty Executive Vice President Jonathan Glick and Senior Vice President Glenn Jaffe managed the transaction. Howard Applebaum, president of Corporate America Realty & Advisors, represented HSJE Realty.
“Each investment transaction is unique,” said Glick, who said his relationship with the seller goes back decades. “An interesting note about this particular deal is that during negotiations, one of the tenants unexpectedly extended and renewed its lease, while another had an option to purchase. In the end, everything worked out well for all parties involved.”