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Footage from the outlet shows flames shooting from the scene shows flames ripping through the structure at Ocean Avenue (Route 88) near Monmouth Avenue, just before 5 p.m.
Lakewood police Capt. Gregory Staffordshire said the building was supposed to have been vacant for some time, however two people believed to have been squatters were injured and treated at a local hospital.
Emergency crews remained at the scene as of 8:45 p.m.
A caused was not immediately identified.
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