Newly constructed in 2005, the Manalapan Tech Park sits directly off Route 33 and consists of nine building totaling 84,132± SF, spanning across 9.63 acres. Each building encompasses six separately metered units and hosts a diverse tenant base with uses ranging from distribution to light manufacturing. Each suite provides tenants with two drive-in bay doors and contiguous office space above the warehouse area. The building has been meticulously maintained and has little to no deferred maintenance.
Potential investors will have the opportunity to purchase a product within a highly coveted asset class, with a strong in-place cash flow and significant value-add opportunity. Flex/warehouse space is one of the most highly sought-after investment vehicles in the current market place with this asset class trading nationally at an all-time premium. Manalapan Tech Park is being offered at a reasonable 6% cap rate at 72% occupancy, with a potential stabilized cap rate upwards of 9.0%, thereby presenting an investor an opportunity with significant upside. This project is a phenomenal opportunity to break into the highly competitive flex/warehouse market or to add onto an existing portfolio.
