Asbury Park Brewery Purchases Former Warehouse

On Mar 13, 2017

A 28,369-square-foot former warehouse at 810 Sewall Avenue in Asbury Park, has been purchased by Asbury Park Brewery.

The transaction process began when Sheldon Gross Realty, Inc. Vice President Glenn Jaffe was engaged as exclusive marketing representative by the previous owner, Flexcraft Company. After multiple interested parties were considered, Asbury Park Brewery was selected to lease the location as a tenant. Then, with its business growing, Asbury Park Brewery optioned to purchase the building during the lease term.

“It’s always very satisfying when a successful lease leads to the property being purchased,” Jaffe says. “Whenever that happens, it’s a favorable outcome for all parties involved.”

In addition to having once been a warehouse, the building at 810 Sewall Avenue is also known for the Family Dollar Store location that occupies a portion of this property.

“Identifying a property that ideally suits your client’s needs can be challenging,” Jaffe adds – and he speaks from experience. He recently also sold Flexcraft its new location, a 120,000-square-foot building on 10 acres in Neptune City.

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