RIPCO Retained for Sale of 138,000 SF Building in NJ

01/04/22

RIPCO Investment Sales expands into New Jersey with an exclusive listing handling the sale of 250 Industrial Way West in Eatontown, Monmouth County.

Sitting on 10 acres, the 138,163-square-foot property is a triple-net leased investment opportunity with no landlord responsibility. It houses a single tenant, SubCom, who has been at the property since 1999, and is comprised of a data center, office space, laboratories, storage, a cafeteria, two elevators and three loading docks. The property offers access to the Garden State Parkway, and Routes 18 and 35.

RIPCO brokers involved with the assignment are Stephen Preuss, Kevin Louie, Kevin Schmitz and Matt Grundy

“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. It provides the ideal workplace placement, allowing for companies to build a stable and prosperous workforce.”

– Stephen Preuss, Vice Chairman at RIPCO

Proposals are expected in the mid-$40 million range. Guidance pricing reflects an approximately 10% cap rate.

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Read the full article in NJBIZ

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