Two-building industrial complex sells for nearly $5M in Manalapan

A two-building Manalapan industrial complex has been sold for $4.96 million, according to real estate firm Sheldon Gross Realty.

The property at 225 County Road 522 was sold by a longtime Sheldon Gross client to a private investor. Neither party was disclosed. Matthew Leonelli, sales representative, brokered the transaction.

The complex was nearly 100% leased at the time of the transaction.

“For a commercial investor, this property represents an exceptional opportunity,” Leonelli said in a prepared statement. “First, it’s almost entirely leased, which eliminates one concern buyers of industrial properties often face. In addition, the location is outstanding, with quick access to major roadways, Newark airport, as well as Philadelphia and New York City.”