REBusinessOnline

Marcus & Millichap Arranges $3.9M Sale of Mixed-Use Property in New Jersey

WHITEHOUSE STATION, N.J. — Marcus & Millichap has arranged the $3.9 million sale of Cushetunk Manor, a 28,900-square foot mixed-use property located in Whitehouse Station. Cushetunk Manor is located at 422 US Highway 22 W and sits on more than two acres. The property is currently 95 percent occupied and comprises six retail units and 12 affordable housing units. Alan Cafiero, Brent Hyldahl and Ben Sgambati of Marcus & Millichap represented the seller, a private investor, in the …

NKF Capital Markets Brokers Sale of Two-Building Office Portfolio Near Trenton

HAMILTON, N.J. — NKF Capital Markets has brokered the sale of a two-building office portfolio in Hamilton. Steven Schultz, Kevin Welsh, Steve Tolkach, Tony Georgiev and Brian Schulz of NKF Capital Markets represented the seller, Mack-Cali, in the transaction. Located at 600 and 700 Horizon Drive, the two buildings are net leased to Verizon Communications and AAA respectively. 600 Horizon sold to a private investor and is a single-story building that was built in 2002 as a call center. 700 …

Marcus & Millichap Negotiates $4.8M Sale of Retail Property in New Jersey

RIVERVALE, N.J. — Marcus & Millichap has negotiated the $4.8 million sale of a 14,900-square-foot retail property in Rivervale also known as the Rudd O'Connor Building. Located at 184 Rivervale Road, the property is fully occupied by a mix of tenants. Alan Cafiero, Ben Sgambati, David Cafiero and John Moroz of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was a limited liability

Goodman Group Acquires 616,992 SF Logistics Center in Northern New Jersey

TETERBORO, N.J. — Goodman Group has acquired a 616,992-square-foot logistics center in Teterboro. The sales price was undisclosed. The property is fully leased to a major e-commerce provider and is located approximately seven miles from Manhattan. It is one of only two Class A logistics centers larger than 400,000 square feet in Northern New Jersey. The seller was

Cushman & Wakefield Arranges $52M Construction Loan for Multifamily Development in Hackensack

HACKENSACK, N.J. — Cushman & Wakefield has arranged $52 million in construction financing for a ground-up multifamily development in Hackensack. John Alascio and Sridhar Vankayala of Cushman & Wakefield represented the borrower, Waypoint Residential in securing financing through Citizens Bank. The four-story property will feature 235 residential units and will be located at 435 Main St. in downtown Hackensack. The project benefits from a 30-year tax

Erickson Living Plans 169-Unit Independent Living Expansion at CCRC in New Jersey

NEW PROVIDENCE, N.J. — Erickson Living has unveiled plans for an expansion at Lantern Hill known as Bell Pavilion. Lantern Hill is a 26-acre continuing care retirement community (CCRC) in New Providence, approximately 30 miles west of New York City. Bell Pavilion will add 169 units of independent living to the property. In addition to the new units, Bell Pavilion will add a new restaurant, fitness center, two bocce courts, courtyard with fireplaces, and resident community gardens to the …

Marcus & Millichap Brokers $2.8M Sale of Mixed-Use Building in Fairview, New Jersey

FAIRVIEW, N.J. — Marcus & Millichap has brokered the $2.8 million sale of a mixed-use building in Fairview. The property consists of eight residential and five commercial spaces as well as a parking garage. Daniel Aviles and Andrew M. Zuckerman of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was a limited liability company in a 1031

Humanscale Signs 155,000 SF Industrial Lease in Piscataway

PISCATAWAY, N.J. — Ergonomic office solutions provider Humanscale has signed a 155,000-square-foot lease at the Rockefeller Group Logistics Center, currently under construction in Piscataway. The 2.1-million-square-foot logistics center will be comprised of five buildings ranging in size from 200,000 to 725,000 square feet. Cushman & Wakefield represented the owners, Rockefeller Group and joint venture partner PCCP LLC, in the transaction. Humanscale was represented by Lennard Commercial …

Angelo Gordon Arranges $64M Construction Loan for Apartment Building in Hoboken

HOBOKEN, N.J. — Angelo Gordon has arranged a $64 million construction loan for the Wonder Lofts, an 89-unit apartment building in Hoboken. Originally built in 1909 and used as an industrial facility that produced Wonder Bread, the project, dubbed the Wonder Lofts, will include five separate buildings and retain a significant amount of the property’s existing architectural detail. Angelo Gordon secured financing through Arkansas-based Bank OZK on behalf of Prism Capital Partners and Parkwood …

HFF Negotiates Sale of 538,107 SF Medical Office Complex in New Jersey

MORRISTOWN, N.J. — HFF has negotiated the sale of a 538,107-square-foot, three-building medical office complex in Morristown. The sales price was not disclosed. The three buildings are located at 435, 465 and 475 South St. and are currently 93 percent leased to Atlantic Health System. HFF represented the seller, National Business Parks Inc., in the transaction. The buyer was Harrison Street Real Estate

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