Second floor office space for lease on Rt. 9 North at Casino Drive in Howell cannot be subdivided
'Very clean, neat, back-office space,' says owner, while Loopnet.com tags it a 'creative loft'
Howell - Nestled upstairs, above Future Pharmacy and Medical Supply, is a 2,000 square foot office for rent in an older center on Route 9 North and Casino Drive, sometimes called 7-Eleven plaza.
The owner of the strip mall, Realtor, David Pivnick, is asking $2,250 per month for the space ($1.13/sq. ft./month), which he said is below market rent.
But he said it was not possible to subdivide the space since it only has one, single, private entrance.
"It would be almost impossible to split it up," said Pivnick.
He said it was listed on loopnet.com.
"The address is 975 Route 9 North -- you'll see our listing," which includes pictures of the inside. It's a very clean, neat space, he noted, indicating a type of "back-office space" because it's on top of the pharmacy and the entrance is around the back of the building.
Pivnick feels the rent is below market price. For instance, he cited Casino 9, a building across the street that's geared toward medical, health, and wellness related operators.
"You'll find the rents are probably about $10 or more a square foot than what we are looking for, but it's an elevated building, [with] a little different set up," said Pivnick of Casino 9.
How much does the 7-Eleven center command for retail space? More than $20 a square foot, plus Triple Net, he said, citing a range, without specifying further because he wasn't in his office.
The rental features two private bathrooms, a large open work area, three private offices, plus a conference room and full-kitchen with storage area, according to Pivnick, who said he wasn't the original builder.
Though the shopping center was built in the early '80s, he acquired it in the late '80s, he said.
But "the building was a shell; there was [only] one tenant when we bought the building," he said, explaining it still had concrete floors and studded walls.
While the plaza is almost 30 years old, about 25 years ago, the original builder lost it to a bank that took it back in a foreclosure, explained Pivnick.
"We ended up buying it from this particular bank and then we finished it and leased it up," he said.
Fortunately, Howell, has been pretty strong thru the last couple of recessions, though there's been some softness too, he said.
We've done well with this location, we're at a traffic light and have good visibility and access, he said.
"Overall the area has been strong for a number of years," said Pivnick, citing Freehold and the growth of the entire Route 9 corridor.
Asked how long 7-Eleven has been a tenant, he said he thought it was nearly 12 years.
And while "Solo tu," the pizzeria, is probably the newest outpost, now in its fourth year, there's been a bagel bakery there for at least a decade, said Pivnick, noting the business changed hands roughly 5 years ago.
LoopNet is reportedly "the most heavily trafficked commercial real estate marketplace online with more than 8 million registered members and 5 million unique monthly visitors," according to Wikipedia.
If you view the pictures, he said, you'll see it's really a nice space.
|Howell Lanes is seen across the highway, in this image.|
|To the left of the sign board is Route 9 North, while the 7-Eleven is on the right.|
|Here, the sign is seen from the opposite side, looking at the intersection of Casino Drive and 9.|
By Dave Schatz