Centerstone Property Group Acquires Retail Property On RT 34 In Matawan, NJ For $2.6M

A retail property located on RT 34 in the heart of Matawan, NJ has been sold for $2,625,000. The property spans 18,000 square feet, resulting in a price per square foot of $146. The transaction took place on December 29, 2023.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,625,000
• Address: 560 New Jersey Highway 34, Matawan, NJ
• Market: Matawan, NJ
• Property Size: 18,000 square feet
• Price per Square Foot: $146

The buyer of the retail property is Russell Nova, Ethan Karavani, and Igor Zakh from Centerstone Property Group. They worked closely with broker Daniel Lanni from Kislak to ensure a seamless process. Centerstone Property Group is an active real estate investment firm focused on purchasing shopping centers in NJ, PA, and NY. The property already has 9,000 square feet of Class A retail space available for leasing, and there are approved plans to build an additional 9,000 square feet of Class A retail.

Cornerstone Capital, represented by Igor Zakh, arranged the financing for the transaction. Centerstone Property Group is actively seeking value-add opportunities and encourages brokers to contact them for a quick response.

Contact information for the principals involved in the transaction:

• Russell Nova (Principal)
  Cell: 917-559-1820
  Email: [email protected]
• Ethan Karavani (Principal)
  Cell: 201-815-3809
  Email: [email protected]
• Igor Zakh (Principal)
  Cell: 917-567-1646
  Email: [email protected]