NEPTUNE, NJ—Weiss Realty has acquired 1800-1836 West Lake Avenue, Neptune, NJ for $8.6 million. The three-story, 48,492 square-foot office building, built in 2010, is located at the intersection of Route 35 and West Lake Avenue.
CBRE's 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 and West Lake Neptune 11 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 its 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,” says Jaime Weiss, president of Weiss Realty. “It represented a great buying opportunity as a strong asset in a key market. 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 building include Hackensack Meridian Health, the Department of Treasury for the State of New Jersey and West Lake Pharmacy.
NEPTUNE, NJ—Weiss Realty has acquired 1800-1836 West Lake Avenue, Neptune, NJ for $8.6 million. The three-story, 48,492 square-foot office building, built in 2010, is located at the intersection of Route 35 and West Lake Avenue.
CBRE's Capital Markets Debt and Structured Finance team of James Gunning, Donna Falzarano and Kyle Saviano arranged a $6 million permanent loan from
“With its proximity to Hackensack
Tenants in the building include Hackensack
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
