Matawan, NJ — The Kislak Company, Inc. announced the recent sale of a 9,000 s/f class A retail building with approvals to construct a second 8,990 s/f retail building at 540 and 560 Rte. 34 in Matawan, Monmouth County, for $2.6 million.
Kislak marketed the property on behalf of the seller, EOM 538 R 34, LLC, with senior vice president Daniel Lanni handling the assignment and he also procured the purchaser, Center Stone Property Group, LLC.
Lanni said, “This brand new retail building on Rte. 34 in the heart of Matawan is ready to be leased. The property comes with approved plans to build an additional 9,000 square feet, which the purchaser has scheduled to begin right away. We were able to identify the right buyer and close quickly for the seller.”
Part of Oak Tree Plaza, this new retail construction offers abundant on-site parking, great visibility and convenience with significant foot traffic from nearby residential apartments; over 13,000 cars per day on Rte. 34.
Matawan is a historic community in Monmouth near Raritan Bay in the larger Raritan Valley region, a borough which is a bustling, commuter town within New York City’s metropolitan reach. Over the last two decades, Matawan has been part of regional and county strategic plans forged by different municipalities, businesses, school boards and other governmental agencies to reinvigorate the local economy by focusing on traditional downtown areas, densely populated, residential neighborhoods, maritime history, and preservation and restoration of the natural beauty of the Raritan Bay shoreline.
Daniel Lanni joined Kislak in 2010 and is consistently among the firm’s leading producers. He specializes in the sale of multifamily and other investment properties in central New Jersey with a particular focus along the Jersey Shore. Lanni was the recipient of the firm’s 2011 Rookie of the Year Award and was promoted to a senior vice president in 2019. He has also been recognized by the Mid Atlantic Real Estate Journal as one of its 40 Under 40 in commercial real estate.
About The Kislak Co., Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage firm consistently recognized for its investment sales success. Established in 1906, Kislak’s market leadership position and longevity are due to its ability to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals. Kislak’s prestigious client base includes individual investors and owners, partnerships, financial institutions, and REITs. The firm’s professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania, Delaware and Florida.