LAWRENCE, N.J. — JJ Operating Inc., in partnership with Houlihan-Parnes Realtors, has acquired Lawrence Shopping Center in Lawrence. The new owners will implement a $5 million renovation plan designed to improve the aesthetics and functionality of the center. Capital improvements will include a façade renovation, enhanced landscaping as well as storefront and tenant improvements. The renovations will be completed by the end of the year. The 393,430-square-foot shopping center is accessible..
ORANGE, N.J. — Marcus & Millichap has arranged the $2.1 million sale of an 8,020-square-foot property net leased to Family Dollar in Orange. Ben Sgambati, Alan Cafiero and David Cafiero of Marcus & Millichap's New Jersey office marketed the property on behalf of the seller, a developer. The team also secured and represented the buyer, a private investor. The building is located at 605 Scotland Road at its intersection with Tremont Avenue.
WOODBURY, N.J. — NAI Mertz has brokered the sale of Lakeside Professional Campus, a 45,000-square-foot office building located at 190 N. Evergreen Ave. in Woodbury. The NAI Mertz team of Rebecca Ting and Julie Kronfeld represented the seller in the transaction. The buyer, First National Realty Partners LLC, will retain NAI Mertz as the leasing agent for the complex. Lakeside Professional Campus is located near Interstate 295 and the New Jersey Turnpike.
NORTH BERGEN, N.J. — Terreno Realty Corp. has acquired an industrial property located at 7777 West Side Ave. in North Bergen for $14 million. The building spans 126,000 square feet on 4.4 acres adjacent to Exit 16E of the New Jersey Turnpike. Amenities at the 100 percent leased property include eight dock-high and two grade-level loading positions, plus parking for 70 cars.
PENNSVILLE, N.J. — Eastern Union Funding's David Singer has arranged a $10.5 million loan for AJH Management Co.’s purchase of Laura's Glen, a 197-unit apartment community in Pennsville. Eastern Union, working with Greystone, secured a 30-year term with the GSE lender. Matt Wilheimer of The Kislak Co. represented the seller in the transaction.
MOORESTOWN, N.J. — Thorofare Capital has funded a $5.7 million fixed-rate bridge loan for the acquisition and renovation of a 219,304-square-foot industrial property in Moorestown. Irvine, Calif.-based Phoenix Investment Funds purchased the asset at auction. The vacant warehouse and distribution facility is located at 540 Glen Ave., about 10 miles from downtown Philadelphia. The building sits on a 13-acre lot and features 15,000 square feet of office space, 24-foot clear heights, 29 loading..
CARTERET, N.J. — Bussel Realty has brokered the $5.1 million sale of a 55,560-square-foot industrial property located at 400 Federal Blvd. in Carteret. Leo Esses of Brussel Realty represented the unnamed buyer. 400 Federal Boulevard LLC was the seller. The property is located near Exit 12 of the New Jersey Turnpike, Port Newark/Elizabeth and Newark Liberty Airport. It features 24-foot clear heights, two drive-in doors for loading, 800 amps of electric power and 29 surface parking spaces.
Sitar Realty-TCN Worldwide Negotiates $3.1M Sale of Warehouse/Office Building in Wall Township, N.J.
WALL TOWNSHIP, N.J. — Sitar Realty Co.-TCN Worldwide has negotiated the $3.1 million sale of a 44,000-square-foot warehouse/office building located at 1325 Route 34 in Wall Township. 1325 Wall LLC was the seller and Chester Lieder was the buyer. Gregg Nowell and Doug Sitar of Sitar Realty were the brokers in the transaction.
PAULSBORO, N.J., AND PHILADELPHIA — Metro Commercial Real Estate has brokered leases for four new Save-A-Lot locations in Philadelphia and Paulsboro. Michael Murray of Metro Commercial represented Save-A-Lot in the following leases: 2101 W. Lehigh Ave., Philadelphia, at Hope Plaza Shopping Center. The 17,500-square-foot store will open this spring. 545 W. Broad St., Paulsboro, at Paulsboro Plaza Shopping Center. The 17,795-square-foot store will open this spring. 400 W. Allegheny..
MORRISTOWN, N.J. — G.S. Wilcox & Co. has secured a $16.5 million loan for the Hampshire Cos.’ newly constructed office building located at 49 Market St. in Morristown. The 44,000-square-foot property is a build-to-suit for law firm Fox Rothschild LLP, allowing the company to consolidate its Morristown and Roseland offices. The Morristown-based mortgage banker secured the financing over a 15-year term from a life insurance company headquartered in Alabama. Gretchen S. Wilcox and Al..