Regions Northeast | New Jersey
Feb 27, 2008
The Lightstone Group has purchased a single-story, 110,500-square-foot office-warehouse building at 1985 Cedar Bridge Avenue in Lakewood, N.J., it has reported. On 11 acres, the building will become the new home of The Lightstone Group's New Jersey Operations Support Center, including its commercial and residential property management, accounting, financial support and lease administration functions. The asset was sold by Jesel Valvetrain Innovation, a maker of automotive race-driven systems. Lightstone plans to occupy 30,000 square feet of the building during the summer of 2008. As one of the largest private real estate owners in the country, the company will be moving from its present Lakewood location at 326 Third Street. Jesel has leased back approximately 68,000 square feet and The Lightstone Group plans to lease the remaining 10,000 square feet.
The Lightstone Group has purchased a single-story, 110,500-square-foot office-warehouse building at 1985 Cedar Bridge Avenue in Lakewood, N.J., it has reported. On 11 acres, the building will become the new home of The Lightstone Group's New Jersey Operations Support Center, including its commercial and residential property management, accounting, financial support and lease administration functions. The asset was sold by Jesel Valvetrain Innovation, a maker of automotive race-driven systems. Lightstone plans to occupy 30,000 square feet of the building during the summer of 2008. As one of the largest private real estate owners in the country, the company will be moving from its present Lakewood location at 326 Third Street. Jesel has leased back approximately 68,000 square feet and The Lightstone Group plans to lease the remaining 10,000 square feet.
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