December 8, 2021 – Charles Loccisano of Horvath & Tremblay has successfully completed the sale of a mixed-use office & retail complex in Forked River, New Jersey. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $7,600,000.
The mixed-use office & retail complex is located at 33-44 Manchester Avenue in Forked River, New Jersey. The property consists of two buildings containing a total of 36,000 square feet on a 6.58-acre lot. The first building is a two-story, medical office building of 18,000 square feet, built in 2008. The second building is a retail strip center of 18,000 square feet, build in 2007. Notable tenants at the property include RWJ Barnabas and Hackensack Meridian Health, both credit-rated entities, as well as regional fast-casual restaurants Surf Taco and Playa Bowls, which are both operated by strong franchisees. 34-44 Manchester Avenue present a unique value-add opportunity, as the parking lots for both buildings are approved and have room for an additional building to be built, adding up to 7,600 square feet of rentable square footage to the property. Nearby tenants include Aldi, 7-Eleven, Dunkin’, TD Bank, Rite Aid, Autozone, Advance Auto Parts, Wendy’s, Wells Fargo, The Home Depot, Kohl’s, Burger King, McDonald’s, Walmart, GJ Maxx, Firestone, GNC, and others.
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.