The property involved in this lease transaction is located at 100 Schultz Dr in Red Bank, Monmouth County. The asset type is an office space with a total square footage of 103,506. The landlord for this property is FM Red Owner LLC.

Summary of transaction details

• Property Type: Office
• Tenant: NVA Red Bank Veterinary Management, LLC
• Tenant's Rep: Wesley Moore - CBRE
• Landlord's Rep: Suzanne Macnow, Joseph A. Sarno, Alexandra Anagnostou & Justin Ridolfo - CBRE
• Asking Rent: $28.50/ft

The tenant in this lease transaction is NVA Red Bank Veterinary Management, LLC. Their representative in this deal is Wesley Moore from CBRE. The landlord is represented by Suzanne Macnow, Joseph A. Sarno, Alexandra Anagnostou & Justin Ridolfo, all from CBRE. The asking rent for this property is $28.50 per square foot.

Due to the pandemic, there was an increased demand for pet adoption, leading to the expansion of Red Bank Animal Hospital. As a result, FM Red Owner was able to release an existing tenant in the building to accommodate the construction of a state-of-the-art animal hospital with a total area of 103,506 square feet. The hospital is expected to open in the fourth quarter of 2023.