Pine Street Commons LLC Sells 17-acre Mixed-use Complex In Rockaway For $12.75M

A private investor acquired a mixed-use property located at 31 Pine Street in Rockaway, NJ. The asset spans 17 acres and includes flex industrial and office space, and it is reported to be 95% leased. The transaction was executed for a total price of $12,750,000.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $12,750,000
• Address: 31 Pine Street
• Market: Rockaway
• Acres: 17
• Seller: Pine Street Commons LLC
• Brokers: Charles Berger & Jeffrey Babikian - CBRE

The deal was facilitated by Charles Berger and Jeffrey Babikian from CBRE, who represented Pine Street Commons LLC and sourced the buyer. The transaction was completed despite challenges present in the capital markets environment.