First National Realty Partners, a real estate investment firm, announced on Wednesday the acquisition of The Coastal Building in Red Bank.
The Class A, 29,178-square-foot trophy asset is located directly on the Navesink River and was acquired in an off-market transaction. Tenants have access to ample parking, which is a highly-coveted amenity in the Jersey Shore town.
First National said it plans to improve the property with upgrades focused on technology and green initiatives.
“The Coastal building is truly a one of a kind asset. The views the building offers the tenants at the property are remarkable. We look forward to working with the tenants at the property to ensure their continued success. The team here at First National is excited to be a part of the Red Bank community. We look forward to working with all local stakeholders and ensuring a successful project for everyone involved,” Andrew DeNardo, a principal of First National, said.