Weiss Realty Acquires 48,492 SF Office Building in Neptune, New Jersey, for $8.6M

Weiss Realty Acquires 48,492 SF Office Building in Neptune, New Jersey, for $8.6M
POSTED ON DECEMBER 18, 2017 BY AMY WORKS IN NEW JERSEY, NORTHEAST, OFFICE
1800-1836-W-Lake-St-Ave-Neptune-NJ

Hackensack Meridian, the Department of Treasury for the State of New Jersey and West Lake Pharmacy are tenants at the 48,492-square-foot office building located at 1800-1836 W. Lake Ave. in Neptune, N.J.

NEPTUNE, N.J. — An affiliate of Weiss Realty has acquired an office building located at 1800-1836 W. Lake Ave. in Neptune for $8.6 million. James Gunning, Donna Falzarano and Kyle Saviano of CBRE Capital Markets Debt and Structured Finance arranged a $6 million permanent loan from Natixis of behalf of the buyers, West Lake Neptune LLC and West Lake Neptune 11 LLC, for the acquisition. Built in 2010, The three-story building offers 48,492 square feet of office space. Current tenants include Hackensack Meridian Health, the Department of Treasury for the State of New Jersey and West Lake Pharmacy. Fred Meyer of NAI Mertz and Jack Sudia of NAI Atlantic Coast Realty brokered the transaction. The Meyner and Landis Law Firm of Newark, N.J., represented the undisclosed seller, while Saverio Celeste of Fort Lee and William Schmidt of West Orange represented the buyer in the deal.