FNRP COMPLETES ACQUISITIONS OF THE COASTAL BUILDING

Anthony Grosso

We are pleased to announce the acquisition of The Coastal Building, a Class A, 29,178 square foot trophy office building located directly on the prestigious Navesink River in fast-growing Red Bank, NJ. The property was acquired in an off-market transaction and adds another high-quality asset to the firm’s growing portfolio of premier real estate assets throughout the United States.

The Coastal Building is a hallmark office property in the hip and up-and-coming Jersey Shore town. It boasts a world-class tenant roster and captivating, sprawling views of the Navesink River. Tenants enjoy ample parking, which is highly coveted in Red Bank. First National plans to improve the property with targeted upgrades focused on green initiatives and technology.

Andrew DeNardo, a principal of First National said, “The Coastal building is truly a one of a kind asset. The views the building offers the tenants at the property are remarkable. We look forward to working with the tenants at the property to ensure their continued success. The team here at First National is excited to be a part of the Red Bank community. We look forward to working with all local stakeholders and ensuring a successful project for everyone involved.”