109 34th Street TT ZZ LLC And SRZ Properties Acquire Office Buildings For $5.35M In Jersey Shore

The transaction involved two office buildings located at 109 34th Street and 9218 Ventnor Avenue in the Ocean City and Margate City markets. The total sale price for both properties was $5,350,000. The office at 109 34th Street, comprising 15,013 square feet, was sold for $2,200,000, while the property at 9218 Ventnor Avenue was sold for $3,150,000. The properties are currently leased to Berkshire Hathaway HomeServices Fox & Roach.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $5,350,000
• Address: 109 34th Street & 9218 Ventnor Avenue
• Buyer: 109 34th Street TT ZZ LLC & SRZ Properties LLC
• Seller: Sovereign Property Management
• Brokers: Michael Shover & Matthew Gorman - CBRE
• Total Square Footage: 15,013
• Price Per Square Foot: $356

Michael Shover and Matthew Gorman represented the seller, Sovereign Property Management, in the transactions. The deal reflects a strategic acquisition for the buyers, enhancing their portfolio in the Jersey Shore area.