106 Apple St. in Tinton Falls — Courtesy: The Kislak Co. Inc.
By Joshua Burd
A New York-based investor has acquired a two-building, 132,272-square-foot office complex in Tinton Falls, in a $14.25 million sale arranged by The Kislak Co. Inc.
The brokerage firm announced Monday that Apple Street Holdings LLC had acquired the property, 106 Apple St., from Reidhass L.P. Located near Route 35 and the Garden State Parkway, the multitenant property was about 89 percent occupied at the time of closing.
Kislak Senior Vice President Barry Waisbrod marketed the complex on behalf of the seller, a longtime client, and procured the buyer.
“The purchaser believes strongly in the central New Jersey market for multi-tenanted office space and this building’s close proximity to the Garden State Parkway and major metro areas made it very attractive,” Waisbrod said.
Kislak said the complex, which sits on 10.4 acres, includes a three-story, 67,272-square-foot building constructed in 1971 and a two-story, 65,000-square-foot building that opened in 1986. Both have abundant windows, newly renovated restrooms and newly carpeted and painted common areas, while the property also boasts a new fitness center.
The complex also has more than 550 parking spaces and an outdoor seating area, Kislak said in a news release. Other amenities include on-site management, janitorial services, major mailing and delivery service drop boxes and multiple sources of high-speed internet connectivity.