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NGKF Capital Markets is pleased to announce it has been retained by Mack-Cali as the exclusive agent to arrange the sale of the 237,295-square-foot Monmouth Executive Center office complex in Freehold, New Jersey. NGKF Capital Markets’ Steven Schultz, executive managing director, Adam Silver, managing director and Tony Georgiev, managing director are marketing the property.
Monmouth Executive Center totals 237,295 RSF of office space distributed among four buildings amassing 22.9 acres, offering tenants a corporate campus setting with well-landscaped grounds complemented by a newly upgraded courtyard. Constructed as multi-tenant buildings, the floor plates of each building provide flexibility to accommodate tenants of all sizes and includes an extensive tenant roster, with tenants in the legal, technology, government, engineering, insurance, healthcare, communications, real estate, electric and business industries. The complex features a diverse rent roll, recently renovated common areas, generous 4.0/1,000 parking ratio, private entrances, 24/7 building access, fully sprinklered buildings with central station monitoring and on-site manager and day porter.
“The award-winning, on-site, property management and institutional ownership of the complex has maintained the park in highly marketable condition, setting it apart from the rest of the submarket’s office inventory,” said Schultz. “The corporate campus setting and flexible floor plates cater to small and large space requirements, presenting prime opportunity for office and medical users looking to establish presence in Monmouth County.”
“The sale of Monmouth Executive Center is a strategic continuation of Mack-Cali’s effort to dispose of non-core assets to reinvest in transit-oriented assets,” noted Executive Vice President and Chief Investment Officer of Mack-Cali, Ricardo Cardoso.
Monmouth Executive Center is well positioned within Monmouth County, one of the state’s fastest growing and affluent areas, conveniently located halfway between New York City and Philadelphia. The property is situated at a four-way interchange of the Route 33 bypass and Halls Mill Road, with immediate access to Routes 9, 18 and 537, the Garden State Parkway and New Jersey Turnpike. Monmouth Executive Center is also in close proximity to various hotels, restaurants, business and retail services, and is less than a half hour away from the Jersey Shore beaches.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.