Zimmel Associates announced on Friday the sale of an industrial building in Eatontown to Red Bank-based real estate company Denholtz Properties.
As COVID-19 took hold of the state, Zimmel said Steron Packaging contracted with the government to package hand sanitizer. Denholtz and Steron, which was represented by Sitar Realty, entered into a 10-year lease for the space.
The 68,500-square-foot, one-story, free-standing building at 200 Industrial Way West sits on 4.5 acres. It was recently renovated by Denholtz and includes 24-foot ceilings, tailboard loading and heavy power, a fresh coat of paint, and epoxy floors.
Denholtz said it was able to secure permits immediately for the tenant since they will be providing an essential service for the government.
“Considering the challenges in this environment and the conditions in the marketplace, we were thrilled to find a tenant providing an essential service for the government,” David Zimmel said. “The space was perfect for them, everyone was happy.”
Zimmel said the property still has 37,000-square-feet available to lease, either as one unit or divided into a 12,000-square-foot unit and a 25,000-square-foot unit.