David Ekstein Buys Warehouse From Saddleback In Flanders, NJ Transaction

The property involved in this transaction is a newly renovated warehouse located at 2 Laurel Drive, Flanders, NJ, 07836. The asset encompasses a total area of 73,500 square feet and is situated on a 7.2-acre site. At the time of the sale, the building was fully stabilized with three long-term leases in place.

Summary of transaction details:

• Property Type: Warehouse
• Transaction Amount: Undisclosed
• Buyer: David Ekstein
• Seller: Saddleback Real Estate Developers
• Market: Flanders
• Buyer's Representative: Robert Adams-Rosebriar Properties
• Square Footage: 73,500

Robert M. Adams of Garden State Realty represented both parties in this transaction. The property attracted interest from investors due to its strategic location near Interstate 80 and the successful repositioning and stabilization efforts undertaken by Saddleback. This sale follows Saddleback's acquisition of the property in August 2018, which included plans for various capital improvements to enhance its value.