Kislak sells new retail building with approvals for expansion in Matawan for $2.6M

A 9,000-square-foot Class A retail building with approvals to construct a second 8,990-square-foot retail building at 540 and 560 Route 34 in Matawan recently sold for $2.6 million, according to a Thursday announcement from the Kislak Co.

Kislak marketed the property on behalf of the seller, EOM 538 R 34 LLC, with Senior Vice President Daniel Lanni handling the assignment, and he also procured the purchaser, Center Stone Property Group LLC.

“This brand-new retail building on Route 34 in the heart of Matawan is ready to be leased. The property comes with approved plans to build an additional 9,000 square feet, which the purchaser has scheduled to begin right away. We were able to identify the right buyer and close quickly for the seller,” Lanni said.

Part of Oak Tree Plaza, this new retail construction offers plenty of on-site parking, great visibility and convenience with significant foot traffic from nearby residential apartments; over 13,000 cars per day on Route 34.

Matawan is a historic community in Monmouth near Raritan Bay in the larger Raritan Valley region, a borough which is a bustling, commuter town within New York City’s metropolitan reach.

Over the last two decades, Matawan has been part of regional and county strategic plans forged by different municipalities, businesses, school boards and other governmental agencies to reinvigorate the local economy by focusing on traditional downtown areas, densely populated, residential neighborhoods, maritime history and preservation and restoration of the natural beauty of the Raritan Bay shoreline.