PARSIPPANY, N.J. — Savills Studley has arranged the acquisition of a 102,000-square-foot headquarters property, located at 339 Jefferson Road in Parsippany. MANE USA, a global fragrance and flavor design company, purchased the property from Prism Capital Partners for an undisclosed price. The company will relocate its headquarters from Wayne, N.J., to 70,000 square feet of the facility. Prism will fit out MANE’s new space, which will include office and research and lab space, as well as construct a new cafeteria and fitness center. Situated on five acres, the property features underground parking and surface lots. The two existing tenants, Hollister Construction Services and Ascend Laboratories, will remain in the building. Thomas Carragher, Adam Petrillo, Filomena Pinto and Christopher Koeck of Savills Studley represented the buyer in the deal.
WHIPPANY, N.J. — Barclays Capital, an anchor tenant, has acquired The Crossings at Jefferson Park, an 525,000-square-foot office property located at 115 S. Jefferson Road in Whippany. Vision Real Estate Partners and Rubenstein Partners sold the office campus for $69 million. The seller recently completed a revitalization and rebranding of the 65-acre campus, with the redesign focused on promoting health, wellness and sustainability. The campus features gourmet food services with indoor and open-air seating, a multi-function business lounge with casual seating and WiFi, and a 2,300-square-foot health and wellness center with state-of-the-art equipment, free weights and locker rooms with showers. Arthur J. Gallagher, PSKW, WithumSmith+Brown, JP Morgan Chase and Lord Abbett are tenants at the three-building campus.
NEW BRUNSWICK, N.J. — Sheldon Gross Realty has arranged the sale of a manufacturing facility located at 1007 Jersey Ave. in New Brunswick. Macritchie Storage acquired the 50,000-square-foot building, which sits on 3.8 acres, for $2.7 million. Jonathan Glick of Sheldon Gross Realty represented the undisclosed seller in the deal.
EDISON, N.J. — Domino’s Pizza has signed a lease for a 182,000-square-foot warehouse, located at 1075 King George Post Road in Edison. Domino’s plans to use the facility, which was developed by Liberty Property Trust, as a food processing and distribution center. Ken Ashley, John Wilkinson, Sam Hollis, Whitney Hembree, Matt Marshall and Jeff Williams of Cushman & Wakefield represented the tenant, while Chuck Fern, also of Cushman & Wakefield, represented the landlord in the lease.
CLIFFSIDE PARK AND PATERSON, N.J. — Gebroe-Hammer Associates has brokered the sales of three multifamily properties located in Cliffside Park and Paterson. Debbie Pomerantz of Gebroe-Hammer represented the sellers in both transactions. Nicholas Nicolaou, also of Gebroe-Hammer, represented the buyer in the Cliffside Park deal, while Pomerantz represented the buyer in the Paterson transaction. In Cliffside Park, an undisclosed buyer acquired a three-story building, located at 319 Palisade Ave., with 19 condominium-style units for $5.45 million, or $286,842 per unit. The one- and two-bedroom units feature hardwood floors, spacious layouts, central air conditioning and in-unit washers/dryers. Community amenities include a ground-level parking garage with direct elevator access. The name of the seller was not released. In Paterson, an undisclosed seller sold two buildings, located at 764-768 21st St. and 549-553 E. 38th St., for $3.2 million to an undisclosed buyer. The properties offer a total of 34 separately metered residential units.
CHERRY HILL, N.J. — Marcus & Millichap has brokered the sale of 926 Plaza, a retail strip center located at 926 Haddonfield Road in Cherry Hill. An undisclosed buyer acquired the property for $4.2 million, or $298 per square foot. The UPS Store, Sherwin Williams, Primo Hoagies and local businesses occupy the 14,123-square-foot property. Shannon Bona, Mark Taylor and Derrick Dougherty of Marcus & Millichap represented the undisclosed seller, while Michael Lombardi, also of Marcus & Millichap, represented the buyer in the transaction.
CEDAR KNOLLS, N.J. — AutoZone, QuickChek and MedExpress Urgent Care have become the first tenants to open at Hanover Crossroads, an under-construction shopping center in Cedar Knolls. Additional tenants soon to open include T.J.Maxx, HomeGoods, Five Below and ULTA Beauty. Key Properties is the developer for the 107,000-square-foot project, which is now nearly 80 percent leased. Located at 110 East Hanover Ave., Hanover Crossroads is located on the former site of Berlex Laboratories. The property was rezoned from office/laboratory to retail use in 2010.
WEEHAWKEN, N.J. — Avora, a condominium development in Weehawken, has topped out at 11 stories, representing a significant construction milestone for the property, which offers views of midtown Manhattan. Landsea is the developer for the project. When complete, Avora will include 184 units and 6,000 square feet of street-level retail space. Initial occupancy is scheduled for first quarter 2018.
THOMPSON, N.Y. — Montreign Operating Co., an indirect subsidiary of Empire Resorts, has closed a $35 million increase to its Term B loans, which are part of a senior secured first lien term loan facility. Montreign and its subsidiaries will use the proceeds of the loans to fund development of the Resorts World Catskills casino, as well as an entertainment village and golf course being developed at the site of the destination resort in Thompson. Following the closing of the additional $35 million Term B loans, the term loan facility now provides an aggregate of $520 million senior secured first lien term loans, consisting of $70 million of Term A loans and $450 million of Term B loans. Upon completion in March 2018, the resort will include an 18-story casino, hotel and entertainment complex with a 100,000-square-foot casino floor, over 100 table games, 2,150 slot machines, a poker room and private gaming salons. Guest amenities will include 332 all-suite hotel rooms, of which there are 12 penthouse suites, eight garden suites, seven two-story villas, two indoor pools, a spa and fitness center.
HACKENSACK, N.J. — HFF has secured $49.6 million in financing for Meridia Metro, a six-story, 222-unit multifamily property in Hackensack. HFF worked on behalf of the borrower, Capodagli Property Co. to place the fixed-rate loan through MetLife Real Estate. Meridia Metro is located at the intersection of State and Warren streets near Routes 4 and 17 and Interstate 80. The transit-oriented property is also located near New Jersey Transit train stations at Essex Street and Anderson Street, along with the Newark Liberty International Airport. Completed in 2016, Meridia Metro features one- and two-bedroom units with amenities such as stainless steel appliances, granite countertops, hardwood floors and walk-in closets. Community amenities include a fitness center, rooftop terrace, social room with poker and pool tables, pet grooming room and grade-level parking garage. Jon Mikula and Michael Klein led the HFF debt placement team representing the borrower.