The Donato Group purchased the warehouse at 607 Industrial Drive in Eatontown, NJ, from private owners for $5 million, or $91 per square foot.
The 55,000-square-foot facility was constructed in 1974 in the Eastern Monmouth Industrial submarket. The financing for this deal includes the construction of a 54,000-square-foot office building.
The Donato Group purchased the warehouse building vacant and has already rented some of the space, with another 17,500 square feet being marketed currently.
Geoffrey Brothers of Brothers Commercial Brokerage represented the seller.
Please see CoStar COMPS #1660817 for more information on this transaction.