REBusinessOnline

Thrivent Provides $27.2M in Financing for Industrial Portfolio in New Jersey

MORRISTOWN, N.J. — Thrivent Financial for Lutherans has provided $27.2 million in financing for a three-building industrial portfolio in Central New Jersey. The borrower was undisclosed. The 410,000-square-foot portfolio consisted of two recently constructed warehouse distribution properties and one existing facility. The location of the properties was not disclosed. The 20-year, fixed-rate loan includes a 30-year amortization schedule. Gretchen S. Wilcox, Al Raymond and Wesley Wilcox of G.S. …

CBRE Negotiates $1.5M Sale of Industrial Building in Hackettstown

HACKETTSTOWN, N.J. — CBRE has negotiated the $1.5 million sale of 999 Willow Grove Street in Hackettstown. The two-story, 45,000-square-foot industrial building sits on 12 acres and features seven loading docks. At the time of sale, the property was 50 percent occupied by long-term tenants that have occupied the space for more than two decades on triple net leases. Charles Berger, Elli Klapper and Thomas Mallaney of CBRE represented the undisclosed seller in the transaction. The buyer was …

HFF Arranges $36.7M in Permanent Financing for Industrial Facility in Secaucus

SECAUCUS, N.J. — HFF has arranged $36.7 million in permanent financing for a newly constructed, two-building industrial facility at One County Road in Secaucus. Completed earlier this year, the 240,317-square-foot facility features a 32-foot clear height, 180-foot truck courts and 50-by-35 foot column spacing. One County Road is situated on 20 acres in the Meadowlands industrial market. The HFF team worked on behalf of the borrower, Bhasin Properties, to place the 15-year, fixed-rate loan …

KeyBank Provides $22.9M Loan for Affordable Housing in Newark

NEWARK, N.J. — KeyBank has provided $22.9 million in financing to Radiant Property Management for the acquisition of 209 units of affordable housing in Newark. The seller was Realty Management Associates. The three properties acquired are Pueblo City, Center City 3 and Johnson Apartments and include 13 buildings. Radiant Property Management is a real estate services company that focuses on the rehabilitation and management of multifamily properties. KeyBank provided a $22.9 million loan to …

HFF Arranges Sale of Seven Building Office Complex in Parsippany

PARSIPPANY, N.J. — HFF has arranged the sale of 100-700 Lanidex Plaza, a seven-building office complex totaling 335,060 square feet in Parsippany. The sales price was not disclosed. Lanidex Plaza is made up of seven office buildings that share amenities, including a full-service cafeteria and conference center.  The two- and three-story properties are located on a 34-acre site. HFF represented the seller, an affiliate of Hartford Investment Management Co. in the transaction. The buyer was …

Marcus & Millichap Brokers $5.5M Sale of Wawa in Ewing Township

EWING TOWNSHIP, N.J. — Marcus & Millichap has brokered the sale of a newly constructed Wawa convenience store/gas station at 1300 Silvia Street in Ewing Township for $5.5 million. Ewing Township is four miles northwest of Trenton. The sale price represents a capitalization rate below 5 percent. Jason Petrick of Marcus & Millichap represented the seller, a private REIT, in the transaction and procured the 1031 exchange

JMF to Redevelop Former Colgate-Palmolive Property in Morris Township

MORRIS TOWNSHIP, N.J. — JMF Properties will redevelop the former Colgate-Palmolive industrial campus on East Hanover Avenue in Morris Township. Both residential and retail uses are planned for the 64-acre site, including a 150,000-square-foot shopping center, 143 townhomes and 60 rental units. JMF acquired the property from Colgate-Palmolive Co. and submitted a redevelopment proposal to the city that municipal officials recently approved. Colgate-Palmolive occupied the property for more than …

Gebroe-Hammer Brokers Three Multifamily Sales for Combined $31.7M

EAST ORANGE, NEWARK, N.J. — Gebroe-Hammer Associates has brokered three separate sales of multifamily properties in the East Orange and Newark corridor for a combined $31.7 million. The properties include 245 units spread across four buildings. The buildings are located at 742 Park Ave. and 110 Halsted St. in East Orange; and 25 Van Velsor Place, and 103 Chancellor Ave., in Newark. The $6.7 million sale of 26 units at 742 Park Ave. set a new benchmark price of $257,692 per unit for the …

Stro Companies Acquires 45,000 SF Industrial Building in Elmwood Park

ELMWOOD PARK, N.J. — The Stro Companies has acquired 475 Mola Boulevard, a 45,000-square-foot industrial building in Elmwood Park for $4.1 million. SB One Bank provided the acquisition financing. The seller was an owner occupant. Stro plans to relaunch the asset with a complete reposition and upgrade program, including interior and exterior improvements that will subdivide the existing two units into four. Currently 32,000 square feet of the building sits

CBRE Secures 20,000 SF Lease for Cyber Security Company in Roseland

ROSELAND, N.J. — CBRE has secured a 20,000-square-foot lease at 5 Becker Farm Road in Roseland for Comodo CA, a global leader in cyber security. The company will move its U.S. headquarters to the location. Daniel F. Casey and Joseph A. Sarno of CBRE represented the building owner, a joint venture between Soma Capital Partners and Northlight Capital Partners, in the lease negotiations. Remy deVarenne and Kadeem Goodall-Reid of CBRE acted on behalf of Comodo

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