BOLLERMAN COMPANIES ACQUIRES
HOVPARK BUSINESS PARK IN EATONTOWN, NJ
Bollerman Companies, a full-service Red Bank (NJ)-based real estate company offering comprehensive development and real estate services, recently added to its expanding portfolio with the acquisition of HOVPARK, a five-building commercial complex in Eatontown, NJ. This award-winning 114,749 square foot business park is prominently located at the intersection of State Highway 35 South and Industrial Way West. HOVPARK is located at the entrance to one of the largest, most established office and industrial areas developed in Monmouth County known as the Eatontown Office/Industrial Park, according to president Jim Bollerman.
Bollerman describes the 11.05 acre complex, which he plans to name West Ridge Corporate Campus, as a sound investment in an outstanding location. "This is a very attractive investment opportunity because of its superb central location, highly suitable design, diverse and stable tenant base, coupled with strong market conditions. Historically the complex, consisting of three two-story 12,000 square foot office buildings and two one-story office flex buildings, has experienced healthy leasing activity among small and medium-sized companies, and we expect this positive trend to continue."
With some vacancies currently available, Bollerman urges those interested to act quickly, and notes that companies leasing in the complex will gain tremendously from not only desirable office space, abundant parking and well-maintained property, but from the many amenities in the surrounding area. "You simply can't beat the location when it comes to commuting ease and area conveniences," says Bollerman. "Set off Exit 105 of the Garden State Parkway, the property is also within close proximity to Routes 18 and 36 as well as other forms of transportation including air, train and bus. Newark Liberty Airport is just 35 minutes away. New Jersey train service is provided via the North Jersey Coast Line, with stations in Long Branch, Little Silver and Red Bank, all within a five to 10 minute drive."
Bollerman adds that the immediate area also boasts many restaurants, retail establishments and services. The Sheraton Hotel is directly across Route 35 and several express mail services including the post office are located down the street. For those lunch-hour shopping sprees, people have access to nearby Monmouth Mall, Seaview Square Mall and numerous retail locations along Routes 35 and 36. Fort Monmouth, which is a couple miles north on Route 35, is the New Jersey Center for Homeland Defense Technologies and Security Readiness. This designation makes the operation of the Fort a central part of New Jersey s security and anti-terrorism efforts. "We are extremely excited about this project," explains Bollerman. "HOVPARK enjoys one of the most desirable locations in the central New Jersey office market. One of the main attributes of this area, in fact, is its access to labor. The rapid development of housing has made central New Jersey one of the main labor forces in the New York metropolitan area, and our complex is set amid a high concentration of office, flex, retail and hotel development going on here."
Founded by Jim Bollerman in 1986, Bollerman Companies, headquartered in Monmouth County, has experienced dramatic growth by offering creative, custom solutions to institutional and high net worth clients. Bollerman Development Corporation develops high quality commercial office, flex and industrial space in Central and Northern New Jersey for its own portfolio and with joint venture partners as well as high end multi-family residential projects in select New Jersey markets. Bollerman Real Estate Services provides asset and property management services, leasing services, property acquisitions and dispositions, tenant representation, consulting/advisory services, expert testimony, land management, single asset and portfolio valuation, commercial, industrial, and investment real estate brokerage. Also providing transition and workout services, it is among the few real estate service companies approved by rating agencies to handle commercial mortgage backed securities (CMBS) and conduit loan properties, including non-performing and distressed real estate assets.