Kislak Commercial sells industrial property in Whitehouse Station, NJ for $3.9 Million
Whitehouse Station, NJ — Kislak Commercial Real Estate Services, Inc. announced the recent sale of a 44,300 s/f industrial property for $3.9 million. The property is located at 27 Ridge Rd., Whitehouse Station, Hunterdon County.
Kislak marketed the property on an exclusive basis with executive vice president Peter Wisniewski handling the assignment on behalf of the seller Palumbo Realty, LLC, which is led by Gary Palumbo. Wisniewski also procured the purchaser 27 Ridge Road, LLC, on behalf of Brandon Nicholson. Palumbo is a longtime client of Mr. Wisniewski’s and this sale marked their fifth transaction together.
“The property was in contract only three days after Kislak listed it, and the speed at which it sold is consistent with the continuing surge in demand for available industrial properties in New Jersey,” said Wisniewski. ‘Demand drivers include the historic rise in e-commerce sales triggered by the pandemic and the insatiable need for additional warehouse space.
Zoned ROM-2 for research, office or manufacturing, the building sits on 13.1 acres of well-manicured landscaping with on-site parking for 40 cars. Offering tailgate and drive-in loading, the building is currently under renovation with an expansion of office space. Its infrastructure is very compatible with current and future uses, which plan on housing new headquarters for The Nicholson Corporation, a regional commercial construction company.
Located one-quarter mile south of Rte. 22 and a 10-minute drive to Rte. 78, the property is also easily accessible to Rte.s 202, 206, and I-287.
The Kislak Company, Inc. announced the recent sale of a 13-unit multifamily property at 407 8th Avenue in Asbury Park, Monmouth County for $2.3 million.
Kislak marketed the property on an exclusive basis with senior vice president Daniel Lanni handling the assignment, and he also procured the purchaser, 407 Asbury, LLC. Lanni commented, “We sold this property to the seller in 2018 and in less than three years following unit renovations and increased rents, the seller realized a $600,000 profit and a record price.”