JLL Brokers Sell Retail Property In Middletown, NJ For $32M

The recently sold retail center in Middletown, New Jersey, located at 1500 Nj-35, Middletown, NJ, 07748, has been transacted for $32,000,000.00. The property spans 191,230 square feet and sits at the corner of Route 35 South and Kings Highway in Monmouth County.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $32,000,000.00
• Market: Middletown
• Asset Type: Retail
• Seller's Rep: Kevin O’Hearn(JLL), Michael (Mike) Kavanagh(JLL), Michael Oliver(JLL), Steve Simonelli(JLL), Michael "Mike" Oliver(JLL)
• Buyer: Unknown
• SF: 191230

The JLL marketing team involved in the transaction included Jose Cruz, Kevin O’Hearn, Mark Mahasky, Michael Kavanagh, Michael Oliver, and Steve Simonelli. The repositioned retail center is set to house a new ShopRite location and will also feature leased pad sites occupied by Wendy’s and Investor’s Bank. The transformation of a former Sears building into this bustling retail center marks a significant redevelopment in the area.