Sheldon Gross Realty brokers sale of mixed-use facility

Sheldon Gross Realty has brokered the sale of a mixed retail and warehouse facility in East Brunswick, it announced Thursday.

The 41,500-square-foot property was acquired by New Jersey-based HSJE Realty, an investment group.

Jonathan Glick, executive vice president at Sheldon Gross, and Glenn Jaffee, senior vice president, managed the deal. HSJE was represented by Howard Applebaum, president of Corporate America Realty & Advisors.

The property currently has three tenants, each which use a portion for warehousing and retail. The facility is located within close proximity to the New Jersey Turnpike Exit 9 and is immediately adjacent to Route 18.

“Each investment transaction is unique,” Glick said. “An interesting note about this particular deal is that during negotiations, one of the tenants unexpectedly extended and renewed its lease, while another had an option to purchase. In the end, everything worked out well for all parties involved.”