Weiss Realty, a leading New Jersey based full-service commercial real estate and investment firm today announced today the successful completion of a major sales transaction with the purchase of 1800-1836 West Lake Avenue, Neptune, NJ for $8,600.000. The three story, 48,492 SF office building is located at the intersection of Route 35 and West Lake Avenue.
CBRE Capital Markets Debt and Structured Finance team of James Gunning, Donna Falzarano and Kyle Saviano arranged a $6 million permanent loan from Natixis of behalf of West Lake Neptune LLC and West Lake Neptune 11 LLC for the transaction.
Fred Meyer of NAI Mertz and Jack Sudia of NAI Atlantic Coast Realty were the exclusive brokers and the Meyner and Landis Law Firm of Newark, NJ represented the seller. Saverio Cereste of Fort Lee and William Schmidt of West Orange represented the buyer.
"With it's proximity to Hackensack Meridian Health, Jersey Shore University Medical Center, we recognized the property's strength and attractiveness located in the West Lake Avenue Re-development District. It represented a great buying opportunity as a strong asset in a key market" commented Jaime Weiss, President of Weiss Realty. "The property is ideally situated in a thriving medical office environment that has seen explosive growth over the past decade and we are clearly excited to be a property owner in Neptune Township."
Tenants in the well maintained building that was built in 2010 include Hackensack Meridian Health, the Department of Treasury for the State of New Jersey and West Lake Pharmacy.
For over 50 years, Weiss Realty has had a significant impact on the office, retail, industrial and investment sales markets and offers an owner-oriented, hands-on approach. For more information about Weiss Realty visit www.jweissrealty.com or call Jaime or Matthew Weiss at (201) 814-1800.