Rose CRE negotiates $4.6M retail site buy in Hazlet

Universal Building & Construction Inc. has purchased a retail property in Hazlet from Heidenberg Properties Group, according to Rose Commercial Real Estate.

The 14,112-square-foot property at 14 Route 36 was purchased for $4.6 million.

The buyer, Rose CRE said, was seeking a 1031 exchange property with long-term tenants, a good cap rate and high net operating income.

The site is currently home to a CVS Pharmacy and Best Buy Liquors.