October 4, 2021 – Michael Lombardi and David McLaughlin of Horvath & Tremblay have successfully completed the sale of the Shoppes at Matawan in Matawan, New Jersey. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $6,825,000.
The Shoppes at Matawan are located at 1008 and 1016 NJ Route 34 in Matawan, New Jersey. The Shoppes at Matawan is a two-building shopping center comprised of 16-tenants in approximately 33,729 square feet on a 5.79-acre parcel of land. The Property was completely renovated in 2019, and benefits from an attractive façade and an abundance of parking. The Property is currently 100% leased to an attractive mix of national, regional, and local tenants. The majority of the tenants have long term leases with scheduled rent increases in both the base terms and renewal options. The highly-visible parcel sits along New Jersey Route 34, the primary retail corridor traversing Matawan. The Property benefits from outstanding visibility and is situated adjacent to a Burger King and just seconds from the area’s two primary grocery stores, Stop & Shop and Shop Rite. The Property is 1-mile from the Matawan Regional High School, 1.5-miles from the Matawan Train Station, and 2-miles from the Garden State Parkway.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.