By Joshua Burd
Denholtz Properties has sold a nearly 74,000-square-foot commercial portfolio in Clark for $18 million, in a newly announced deal by Zimmel Associates.
According to a news release, the properties at 301, 315, 33, 75, 89 and 225 Terminal Ave. include a mix of industrial, office and retail space. Denholtz completed its sale after what Zimmel described as significant investments over the last decade, including the development of a Dunkin’ and a strip center, enhancing the 73,573-square-foot portfolio’s overall value.
The undisclosed buyer, a longtime client of the brokerage firm, now owns nine properties on Terminal Avenue after having acquired three others totaling 150,000 square feet two years ago.
“We’ve represented these properties for Denholtz for over a decade, maintaining stabilized long-term leases that enhanced their appeal to buyers,” said David Zimmel, president of Zimmel Associates. “The location, just off the Garden State Parkway, combined with the Clark market’s strong performance, made this portfolio an exceptional opportunity for the buyer to expand their footprint.”
Zimmel will remain as the portfolio’s leasing broker for availabilities that include 34,000 square feet of industrial space at 159 Terminal Ave. and another 40,000 square feet at 133 Terminal Ave., both available April 2025. The firm is also marketing 9,000 square feet of office space at 75 Terminal Ave.
“This sale marks a full-circle moment for Denholtz Properties,” Zimmel added. “From acquisition and strategic improvements to achieving maximum value, it’s a testament to the strength of the market and the foresight of everyone involved.”
