December 4, 2020
CBRE recently completed the $4.95-million sale of an industrial property located at 865 Rt.33 in Freehold, NJ. The CBRE team comprised of Charles Berger, Elli Klapper and Mark Silverman represented the seller, L&M Realty Associates LLC, and procured the buyer, 865 NJ 33 SD LLC.
Built in 1984, 865 Rt. 33 is centrally located in Monmouth County in Northern New Jersey. The single-story industrial facility has 46,000 gross leasable square feet of space on 10 acres of land.
“L&M Realty Associates originally acquired the asset for $3.5 million in 2013,” said Silverman. “We were able to procure a buyer during the first few challenging weeks of the global pandemic for this off-market deal on top of being able to secure premium pricing for the property.
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