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New Jersey

Sitex Group Develops 271,195 SF Spec Industrial Building in Mahwah, New Jersey

MAHWAH, N.J. — The Sitex Group is developing a 271,195-square-foot speculative industrial building located at One Sharp Plaza in Mahwah. Situated on 20.7 acres, the warehouse will feature 36-foot clear ceiling heights, 36 dock doors, ESFR sprinklers, two drive-in doors and parking for 25 trailers and 184 cars. Completion is slated for the end of first quarter 2018. The Sitex Group has retained Kenneth Lundberg and Patrick Lennon of NAI James E. Hanson to broker the lease of the facility.

August 16, 2017

Larken Associates Purchases 90,000 SF Office Building in Branchburg, New Jersey

BRANCHBURG, N.J. — Larken Associates has acquired Branchburg Centre, a two-story office building located at 3040 U.S. 22 West in Branchburg, for an undisclosed price. At the time of sale, the 90,000-square-foot Class B property was 74 percent leased. Kronus, Pure Technologies and Tri-County Care Management are tenants at the building. Larken is renovating and updating the property, including the commons areas, lobby and hallways. Additionally, the company will install new tenant signage,..

August 15, 2017

Terreno Realty Acquires Two Industrial Land Parcels in Newark, New Jersey

NEWARK, N.J. — Terreno Realty Corp. has purchased two industrial land parcels in Newark for an undisclosed price. The transactions include a 7.2-acre improved land parcel located at 178 Stockton St. and a 10.6-acre improved land parcel at 422-470 Frelinghuysen Ave. Alex Conte, Jason Crimmins, Kenneth Crimmins and Peter Murano of The Blau & Berg Co. represented the buyer and undisclosed seller in the transactions. The properties, which offer easy access to U.S. highways, ports and Newark..

August 15, 2017

Sterling Properties Receives $146.6M in Refinancing for Apartment Community in New Jersey

FRANKLIN LAKES, N.J. — Sterling Properties has received a $146.6 million mortgage loan for the refinancing of Mill Pond Apartments, a garden-style apartment complex located in Franklin Lakes. New York Life Real Estate Investors arranged the 10-year, fixed-rate loan. The Class A property features 100 apartments.

August 14, 2017

Weiss Realty Brokers Sale of Office, Flex Building in Pine Brook, New Jersey

PINE BROOK, N.J. — Weiss Realty has arranged the sale of an office and flex building located at 34 Maple Ave. in Pine Brook. iStar Realty acquired the property from a partnership between the principals of CHT Group and Jaime Weiss, managing member of 34 Maple Avenue LLC, for an undisclosed price. Situated on 10.4 acres, the property features 130,180 square feet of space. Prior to the sale, Weiss Realty acted as property manager and leasing agent for the ownership. Greg Sabato and Scott Peck..

August 14, 2017

HFF Secures $14.9M in Financing for Warehouse Facility, Land Site in South Brunswick, New Jersey

SOUTH BRUNSWICK, N.J. — HFF has secured $14.9 million in financing for a warehouse distribution building and adjacent 16-acre development site located at 83 Stults Road in South Brunswick. Michael Klein and Eric Tupler of HFF arranged the three-year, floating-rate loan through Malvern Federal Savings Bank for the borrower, a partnership between EverWest Real Estate Partners and Accordia Realty Ventures. Loan proceeds will be used to cover acquisition and closing costs associated with the..

August 11, 2017

Marcus & Millichap Arranges $2.1M Sale of Retail Property in Pleasantville, New Jersey

PLEASANTVILLE, N.J. — Marcus & Millichap has brokered the sale of a retail property located at 881 Black Horse Pike in Pleasantville. A developer sold the property to an undisclosed buyer for $2.1 million. Family Dollar net leases the 8,060-square-foot building. Ben Sgambati, Alan Cafiero and David Cafiero of Marcus & Millichap represented the seller in the deal.

August 11, 2017

Colliers Negotiates $6.2M Sale of Office Building in Hammonton, New Jersey

HAMMONTON, N.J. — Colliers International has arranged the sale of a three-story office building located at the intersection of Routes 30, 54 and 206 in Hammonton. Interstate Commercial acquired the property from Hammonton 1 LLC for $6.2 million. At the time of sale, the 33,000-square-foot property was fully occupied by South Jersey Family Medical Center and South Jersey Energy Solutions, a subsidiary of South Jersey Industries. Evan Zweben of Colliers represented the seller, while Dan..

August 10, 2017

Houlihan-Parnes Realtors Brokers Sale of 197-Unit Apartment Community in Pennsville, New Jersey

PENNSVILLE, N.J. — Houlihan-Parnes has arranged the sale of Laura’s Glen Apartments, an apartment community located in Pennsville. The 197-unit property, along with an adjacent 26-acre land parcel, sold for an undisclosed price. Situated on 17 acres, the community features 10 two-story buildings offering a mix of one-, two- and three-bedroom apartments, ample parking, a swimming pool and playground. Stewart Wolf of Goldberg, Weprin, Finkel, Goldstrin LLP provided legal counsel for the..

August 10, 2017

Rialto Capital Sells 212,666 SF Office Property in Secaucus, New Jersey, for $21M

SECAUCUS, N.J. — Rialto Capital has completed the sale of 150 and 200 Meadowlands Parkway, two office buildings in Secaucus. Alma Realty acquired the buildings for $21 million. Totaling 212,666 square feet, the two buildings were 77 percent leased at the time of sale. Current tenants include Schiavone Construction, Ashley Stewart, Cory 1st Choice Home Delivery and Image Processing Systems, a data center for VXchange and Frontage Laboratories. Jeffrey Dunne, Jeremy Neuer and Geoffrey Schubert..

August 8, 2017