250 Industrial Way West in Eatontown — Courtesy: Ripco Real Estate
By Joshua Burd
A nearly 140,000-square-foot commercial property in Eatontown is on the market for sale, with the potential to command offers of more than $40 million.
Brokers with Ripco Real Estate have listed the property, 250 Industrial Way West, touting it as a triple-net leased investment opportunity with easy access to major highways and proximity to an affluent swath of Monmouth County. The 138,163-square-foot building is fully leased to SubCom, a tenant since 1999, and comprised of a large data center, office space, laboratories, storage, a cafeteria, two elevators and three loading docks.
“250 Industrial Way West is a high-quality, meticulously maintained building that we are confident will be an attractive offering for investors looking for a property in a diverse location that satisfies the demand for hands-off assets with a higher rate of return,” Stephen R. Preuss, a vice chairman at Ripco, said in a prepared statement. “It provides the ideal workplace placement, allowing for companies to build a stable and prosperous workforce.”
Preuss is marketing the property alongside Kevin Louie, Kevin Schmitz and Matt Grundy, representing Eatontown Properties LLC in the offering. They noted that the property is minutes from the Garden State Parkway and routes 35 and 18, while proximate to medical and academic institutions and the Monmouth Mall.