NEW JERSEY—Diversified Equities Corp. has purchased 1199 Route 37 East in Toms River for $3.2 million. The Goldstein Group’s Gregory Panayoti represented the buyer in the transaction, while Berkeley Capital Advisors of North Carolina represented the seller, HNM Toms River LLC.
Situated on 1.8 acres, 1199 Route 37 East is a 10,205-sq.-ft. property. The building is home to AAA Mid-Atlantic Car Care Center.
Formerly a Saturn of Toms River dealership, the property surrounded by national tenants and located at a traffic light intersection.
“This was a complex transaction involving several legacy environmental issues that needed to be addressed, which we worked through to a successful closing,” said Chuck Lanyard, president, The Goldstein Group. “This deal highlights the recent uptick in the market due to the availability of low interest loans and investors’ increasing appetite for NNN investment properties in prime areas."