NAI Mertz completes $5.2M, 3-building investment deal in Manalapan

By Emily Bader
Manalapan | Jul 31, 2019 at 10:46 am

NAI Mertz, a commercial real estate firm based in Mount Laurel, announced Tuesday it has completed the sale of three properties located within the Century Office Park in Manalapan.

Totaling approximately 78,000 square feet of office space, 100, 200 and 300 Craig Road were sold to a local investor for $5.2 million, NAI Mertz said.

Jonathan Klear, senior vice president at NAI Mertz; along with Fred Meyer, executive vice president; completed the sale.

“This is the second transaction we have completed on behalf of this seller in just a short 12-month timeframe,” Klear said. “At NAI Mertz, we take great pride in cultivating relationships with our clients and work diligently to provide informed market insights so as to enable them to make the best decisions.”

Klear and Meyer, NAI Mertz said, also delivered several new tenants to the property, increasing its occupancy to 70%.

The two-story office buildings are within close access to Route 9 and have newly-renovated lobbies and parking.

“In addition to completing this portfolio sale, we are pleased to have leased space to new tenants and making this a more attractive deal to the buyer,” Meyer said. “Monmouth County is continuing its growing popularity as a destination for business, tourism and residents alike, and we are glad to be bringing investors and new companies to the area,” he concluded.

Emily Bader | ebader@roi-nj.com | emilybader