Real estate advisory firm Newmark Knight Frank announced the sale for the Clark property Monday.
According to NKF, the 108,000-square-foot building has been leased to L’Oreal since 1992 and is the only such center in the country, and just one of six worldwide.
Clark Commercial Center is a 10-building portfolio purchased by Denholtz in 2015 through a joint venture with MB1. After the purchase, Denholtz initiated capital improvements at the building which resulted in a long-term lease extension with L’Oreal, NKF said.
NKF Executive Managing Director Steven Schultz and Managing Director Tony Georgiev managed the deal.
Denholtz is a real estate development, investment and management company based in Matawan.
NKF has New Jersey offices in East Brunswick, Rutherford, Whippany, Morristown and Marlton.