WALL TOWNSHIP, NJ—Sitar Realty Company - TCN Worldwidehas brokered the $5.3 million sale of a 26 acre industrial property that formerly housed Point Pleasant Beer Distributors. That works out to about $56 per square foot.
The buyers, 287 Route 34 Landlord and Madison Exchange (as Ql for 475 Oberlin Avenue South and Jackson Commercial and Industrial Properties) acquired the parcel from Wardell Family LLC. Steve Richel of Richel Commercial Brokerage marketed the property.
The tract includes two buildings, a 101,318 square foot warehouse, that has nearly 4,000 square feet of office space and a 2,500 mezzanine, and a separate service shop with about 4,000 square feet and another 800 square foot mezzanine, Robert JanTausch, Sitar Realty's broker on the deal, tells GlobeSt.com exclusively.
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