June 9, 2009 - Onyx Equities, LLC has completed the sale of a 10,374 sf, stand-alone office building located at 65 Gibson Place in Freehold to the Chinese American Bible Church.  Gregg Nowell, John O'Hearn and Chris Santoro from Sitar represented the landlord in this transaction, while Timothy Kwok from RE/MAX Champions represented the buyer.

"Formerly leased by Centra State Hospital, this facility represented an opportunity for the Chinese American Bible Church-which is currently sharing a space with another local congregation-to establish an independent house of worship for the benefit of their congregation," explains Michael K. Nevins, Vice President of Asset Management, Onyx Equities.

While terms of the transaction were not disclosed, Nevins tells GlobeSt.com that both parties were satisfied with the outcome.  "The church chose the building due to its unique interior configuration and the fact that it is easily accessible by the region's main thoroughfares and is located near Freehold's local amenities," he adds.

The building at 65 Gibson Place was part of Onyx Equities' Freehold Executive Center, that includes 303 West Main Street, a recently renovated 4-story, 59,257 sf office/professional building and pad sites that can accommodate two stand alone single story buildings of 8,000 sf and 15,000 sf. Freehold Executive Center is situated in the western Monmouth County submarket within close proximity to Route 9, Route 33, Route 79, and Freehold Raceway Mall.

About Onyx Equities, LLC
Headquartered in Woodbridge, New Jersey, Onyx Equities, LLC was formed in 2004 and currently owns a portfolio of 3,318,000 square feet of office, retail, and industrial properties located in New Jersey, New York, Connecticut, Pennsylvania and Florida. Since its inception, Onyx has acquired over $680 million in assets throughout the region. For more information on Onyx Equities, LLC, contact the firm at (732) 362-8800, or visit www.onyxequities.com.