JLL sells 265 Industrial Way for HAP Marketing
JLL secures the sale of a 36,500-square-foot flex facility on behalf of HAP Marketing
Eatontown, NJ January 25, 2021 – JLL has completed the sale of 265 Industrial Way W, a 36,500-square-foot flex facility in Eatontown, NJ, on behalf of Montero Realty Services, a subsidiary company of HAP Marketing Services, Inc.
HAP Marketing Services, Inc., provides marketing, public relations, trade show support and logistics services, sought to consolidate their business operations.
The 36,500 square foot property in excellent condition features 9,000 square feet of office, 27,500 square feet of warehouse, two loading doors, and is conveniently located off Route 35 near the Garden State Parkway and Route 18.
Peter Ladas, Senior Vice President, and Gary Politi, Senior Vice President, with JLL represented the seller in and Andy Rudoff, Principal of Resource Realty Inc. represented the buyer in this transaction.
“When we decided to pursue the lease or sale of our facility, we made the decision to have JLL represent us based on their reputation and involvement in our marketplace. We relied heavily on the insights and guidance provided by Peter Ladas and the JLL team.” said Christian Fernandez, CEO & President of HAP Marketing Services.
Due to the increase in market demand to own flex space, buyers showed a willingness to pay a premium for the property. We ultimately were able to identify the right buyer for the property, to whom the facility provided added value.” said Ladas. “At the same time, we were able to secure a favorable, long-term lease at a build-to-suit facility nearby that ideally met HAP Marketing’s consolidated space requirement.”
JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 1,260 professionals and support staff providing agency leasing and property marketing, tenant representation, industrial services, strategic consulting, occupancy planning, workplace strategies, project and development services, property and facility management, and investment sales/capital markets debt and equity services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from five full-service offices in Parsippany, Iselin (Metropark), Princeton, Morristown and East Rutherford, also acts as a local service provider for JLL’s global and national corporate clients in need of real estate assistance in New Jersey. NJBiz ranked JLL’s New Jersey operations as the No. 1 commercial real estate brokerage in the Garden State in 2020.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.