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86,750-SF Spec Building Rises in Monmouth County

MANALAPAN, NJ-The class A office building, being developed by a partnership that includes NY Giants running back Ron Dayne, is being marketed by Cushman & Wakefield.

By Eric Peterson | Updated on October 21, 2002

MANALAPAN, NJ-In a market that is continuing to show little demand for office space and a vacancy rate firmly planted in the double digits, Taylor 9 South Associates LLC is proceeding with its new 86,750-sf The Atrium at Manalapan Corporate Center, a two-story, class A office complex in this central Monmouth County community. The developer of the property is a partnership headed by the locally-based Dalton Properties and includes New York Giants running back Ron Dayne.

Despite the general statewide office market malaise, Michael S. Dalton, managing partner for Dalton Properties, says that the Monmouth County market, especially Manalapan, “has a significant appetite for this project. Office availabilities in the immediate area are extremely tight, especially for class A product.”

“It is an institutional-caliber office building,” adds Joseph Sarno of Cushman & Wakefield of New Jersey, which has just gotten the marketing assignment for the asset. Sarno and David Zwang of C&W’s Central New Jersey office in Iselin are heading up the assignment. “The quality of the accommodations is a cut above the typical space in Central New Jersey, and we have a great deal of confidence in this project,” Sarno says.

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