Eight-Building Office/Flex Park Home to Region’s Major Employers
WALL TOWNSHIP, N.J., April 9, 2018 – Cushman & Wakefield has arranged the trade of Monmouth Shores Corporate Park, an eight-building office/flex complex totaling 400,000 square feet in Wall Township, N.J. Monmouth 2 LLC, an affiliate of BHN Associates, purchased the asset from Mack-Cali.
Monmouth Shores Corporate Park is one of the largest business parks in the region and is situated along Campus Parkway, Wyckoff Road and Highway 34 in Wall Township. The Park was 88 percent leased to 24 tenants at the time of sale and is comprised of five single-story flex assets and three office buildings. Cushman & Wakefield’s NJ investment team members, including Andy Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Frank DiTommaso, represented the seller.
“Mack-Cali has done an exceptional job with the Park, maintaining a high historical occupancy rate and catering to a diverse base of regional and national credits,” said Gabriel. “Most notably, the Park serves as home to Monmouth County’s largest employer, who has maintained a presence there for over 15 years and continues to expand,” DiTommaso added.
With its mix of office and flex space, the park provides flexibility with buildings that range in size from 20,000 to 80,000 square feet. The flex components of the park feature 22’ clear height in the warehouses and a variety of dock-height and drive-in doors for loading capabilities.
Monmouth County is one of the fastest growing counties in the state. Monmouth Shores Corporate Park benefits from its access, immediately off of Route 33 and Highway 34, and is less than two miles from the Garden State Parkway. The complex is well-served by local amenities given its proximity to hospitality, retail and lifestyle service.
Based in East Rutherford, New Jersey, Cushman & Wakefield’s investment group specializes exclusively in investment sales of office, industrial, multifamily and retail properties throughout New Jersey, New York, and Fairfield County, Connecticut. The team has completed $27 billion worth of transactions since 2000, closing over $2.2 billion in sales in 2017.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.