East Windsor, New Jersey (November 8, 2022) – TFE Properties and Hotels Unlimited (a division of TFE Properties) have finalized the sale of the Ramada of Toms River as of November 1, 2022. The company has also recently completed the purchase of medical/office space at 970 Hooper Avenue in Toms River, NJ, an office building at 500 Craig Road in Manalapan, NJ, and The Fields Sports Complex in East Brunswick, NJ.
In reference to the sale of the Ramada Toms River, company President Carey Tajfel says, “We thank all of our patrons and guests for 32 years of business. Our decision to sell the Ramada was based on significant interest in converting the building to meet the office needs of the local community. We have built many happy memories and deep ties within the Toms River area, and these ties will grow as we continue to operate the nearby Days Hotel Toms River and Hilton Garden Inn Lakewood hotels.”
When asked about the decision to purchase the new commercial assets, Tajfel noted that he plans to improve the quality of the assets to create more tenant interest in the properties. He anticipates attracting “medical or other qualified office tenants that are looking for an upgraded building which is operated by an excellent landlord with a reputation for quality and attention to detail.”
The Fields is fully occupied, but 500 Craig Road currently has four vacant spaces totaling about 15,000 RSF, and 970 Hooper Avenue has two vacant spaces totaling about 13,000 RSF. Current tenants of the Craig Road building include American Financial Network, Integrated Media Solutions, and others. TFE Properties plans to renovate all of the building’s common areas, redesign the new tenant spaces, and update the building façade and exterior. Current tenants of the Hooper Avenue building include CityMD and Fresenius Medical Care. TFE Properties plans to upgrade and renovate the building exterior and façade elements to give them a modern new look.
The growing TFE Properties portfolio includes projects in New Jersey and Philadelphia. The company specializes in buying properties that are well suited for development as well as properties that are underutilized and ripe for added value through renovation and market repositioning. TFE Properties looks forward to announcing a wide array of projects that are currently under development and coming soon.
For press inquiries and more information about TFE Properties and Hotels Unlimited, please contact Julia Coppock at (609) 944-4010 or [email protected].
Prospective tenants and brokers interested in available rental space at 500 Craig Road are invited to contact Eric Starker at (732) 972-2937 or [email protected].
Prospective tenants and brokers interested in available rental space at 970 Hooper Avenue are invited to contact Rachel Zagha at (609) 944-4050 x8632 or [email protected].
About TFE Properties: TFE Properties is based in East Windsor, NJ. Best known for their reputation for quality and hands-on management, they develop strategically located commercial and residential properties from the ground up, in addition to purchasing existing properties where they see opportunities to create value. For more information, visit www.tfeproperties.com.
About Hotels Unlimited: Hotels Unlimited, Inc., established in 1990, is a division of TFE Properties which now includes 10 hotels in locations throughout New Jersey affiliated with Holiday Inn®, Holiday Inn Express®, Radisson®, DoubleTree®, Hilton Garden Inn®, Days Inn®, Days Hotel®, and Sheraton®. Since 2012, their hotels have won over 52 TripAdvisor Certificates of Excellence, awarded to the top 10% of hotels nationwide. For more information about Hotels Unlimited, please visit www.hotelsunlimited.com.
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