Monroe Township, N.J. (February 8, 2022) – Fennelly announces it has negotiated the sale of a 27,863-square-foot light industrial building at 22 Abeel Road in Monroe Township, N.J. for $3.8 million. Fennelly’s Jerry Fennelly, SIOR, and Matt Fennelly represented the seller, Shima Seiki, in the sale to Aplomb Technologies.
22 Abeel Road is a two-story light industrial building featuring 19,512 square feet of office space and 8,351 square feet of warehouse space with one tailgate and one drive-in. The flexible property is situated in Einstein’s Alley, a private, non-profit economic development initiative located in central New Jersey that is focused on encouraging the growth of knowledge-based jobs and creating a hub for the workforce of the future. The building’s 260’ of frontage on the New Jersey Turnpike and connectivity to Routes 33 and 130 afford tremendous access to the broader Philadelphia and New York City metropolitan areas as well.
Shima Seiki, a leading manufacturer of computerized flat knitting machines and design systems, had constructed and occupied the building as its East Coast headquarters for 36 years. However, as their business’ needs changed, they sought to relocate their headquarters to the West Coast and utilize a smaller facility for their northeastern operations. Recognizing Fennelly’s expertise in the market, they tapped the firm to secure a buyer for the building.
Aplomb Technologies, an IT solution provider for companies across the IT, financial, telecom, health, retail, manufacturing, insurance and media sectors, recognized 22 Abeel Road’s unique location in the heart of New Jersey’s knowledge economy paired with a high level of adaptability to its needs would make the building the ideal new home for their business.
“Home to hundreds of cutting-edge companies and leading research institutions like Princeton University, central New Jersey continues to be a highly attractive headquarters location for technology-focused service providers like Aplomb Technologies,” said Fennelly. “Powered by our decades of experience in the market, our team is proud to represent sellers like Shima Seiki to help them sell excess real estate and to secure fair market value for their assets in this competitive market.”
Shima Seiki also sought Fennelly’s services in securing a new, smaller location in the market. Working closely with Shima Seiki’s executive team, Fennelly negotiated a lease for a 5,000-square-foot flex space in the Stouts Business Park at 45 Stouts Lane in Monmouth Junction that will service the company’s clients throughout the Northeast.