New Jersey

Neptune

Property Details

3501 Rt. 66
Neptune, NJ 07753

47.4 Acres

Mixed Use Redevelopment

Opportunistic acquisition of a vacant office building site through bankruptcy court
Low cost basis provided multiple avenues for value creation
Worked with Neptune Township on designating the site an Area in Need of Redevelopment
Redevelopment Plan expanded the permitted zoning and uses at the property to include warehousing
Entered into a Redevelopment Agreement with Neptune Township in May 2024
Site Plan Approval received in June 2024 for a 252,000 SF Class A warehousing building, 15,000 SF retail center, and approximately a 1.8-acre Township park