The Kislak Co. Inc. recently sold a 6,400-square-foot retail building at 1683-1687 St. Georges Ave. in Rahway for $765,000.
Kislak marketed the property on an exclusive basis, with Senior Vice President Daniel Lanni handling the assignment on behalf of the seller, LMN Financial Group LLC, and he also procured the purchaser, a private investor that was not disclosed.
“The long-term owner contacted us since he was ready to retire and wanted a professional marketing and sale process with fast results. We immediately generated multiple offers and closed in 30 days with an all-cash investor,” Lanni said.
The property consists of a one-story retail building constructed in 1950 on a 14,800-square-foot lot. The building has a newer roof and HVAC system, on-site parking and is fully occupied by three tenants.
Rahway recently reinvented itself increasingly as a diverse regional center for the arts and biological sciences, with official certification as a Film Ready Community through the New Jersey Motion Picture and Television Commission; and with Merck’s new global headquarters and Robert Wood Johnson University Hospital situated there. Centrally located, Rahway is 15 miles southwest of Manhattan and 5 miles west of Staten Island.
