SAYREVILLE, N.J. — CBRE has negotiated the sale of an 8,000-square-foot industrial outdoor storage facility in Sayreville, about 35 miles south of Manhattan. The site spans 1.3 acres and sold for $4 million. Mark Silverman, Elli Klapper, Liam McGregor and Jeremy Wernick of CBRE represented the buyer, Dallas-based Dalfen Industrial, in the off-market transaction. The seller was Florida-based Highpoint Enterprises.
ATLANTIC CITY, N.J. — New Jersey-based brokerage firm The Kislak Co. Inc. has arranged the sale of Indian Oaks Apartments, a 44-unit multifamily complex in Atlantic City. The sales price was $5.8 million. The property consists of 11 buildings that were recently renovated and house 10 one-bedroom units, six two-bedroom apartments and 28 two-bedroom townhouses. Joni Sweetwood of Kislak represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
ASBURY PARK, N.J. — Partner Engineering & Science Inc. has opened an 18,000-square-foot office in the coastal New Jersey city of Asbury Park. The building at 929 Asbury Ave. was originally constructed in the late 19th century as a warehouse and showroom. The space, which will serve as the company’s East Coast headquarters and can support about 70 people, features private offices, conference rooms and flexible workstations.
EGG HARBOR, N.J. — Developer DXD Capital has completed a 602-unit self-storage facility in Egg Harbor, located along the Jersey Shore. The facility features 76,700 net rentable square feet of both climate- and non-climate-controlled space with both multi-story and drive-up accessible unit options. Extra Space Storage will operate the facility. Storage Construction served as the general contractor for the project, construction of which was financed by Century Bank. DXD Capital first acquired the site at 6679 Black Horse Pike in November 2022.
HOBOKEN, N.J. — Unilever (NYSE: UL) has signed a 111,000-square-foot office lease in Hoboken for its new U.S. headquarters. The British conglomerate will occupy three full floors at 111 River Street, which is part of the three-building, 1.5 million-square-foot Waterfront Corporate Center complex. CBRE represented Unilever in the lease negotiations. New York City-based SJP Properties owns Waterfront Corporate Center, which is also home to tenants such as Lipton, Walmart and Newell Brands.
ROCHELLE PARK, N.J. — JLL has arranged a $44 million loan for the refinancing of The Delford, a 160-unit apartment complex in the Northern New Jersey community of Rochelle Park. The Delford is a newly constructed property that offers one-, two- and three-bedroom units, 24 of which are subject to income restrictions. Amenities include an outdoor pool, grilling and dining areas, coworking lounge and a fitness center. Michael Klein, Jon Mikula and Ryan Carroll of JLL arranged the five-year, fixed-rate loan through Nuveen Real Estate on behalf of the borrower, Tulfra Real Estate.
GALLOWAY, N.J. — Cushman & Wakefield has brokered the $13.7 million sale of Smithville Square, a 106,931-square-foot retail property in Galloway, located in Atlantic County. Anchored by Curexa Pharmacy, the property spans 26 acres and was 97 percent leased to 19 tenants at the time of sale. Frank DiTomasso, Andy Schwartz, Jordan Sobel, Max Helfman, Andre Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the seller, P3 Properties, in the transaction. The buyer was Western Building Co.
WARETOWN, N.J. — First National Realty Partners (FNRP) has acquired Waretown Town Center, an 87,735-square-foot shopping center in coastal New Jersey. The sales price was $14.2 million. A 60,800-square-foot ShopRite grocery store anchors the property. Other tenants at the center, which was 96 percent leased at the time of sale, include Meridian Health, Shore Smiles Dentistry, Saladworks and Great Clips. Colin Behr and Chris Munley, Ryan Sciullo, Casey Benson Smith, R.J. Mirabile and Michael Pascavis of CBRE represented the seller, Chancellor Development, in the transaction.
JERSEY CITY, N.J. — JLL has arranged $152 million in construction financing for 35 Cottage Street, a 588-unit apartment tower that will be located in the Journal Square neighborhood of Jersey City. The development will also house a synagogue, preschool and a dedicated party hall, the latter of which will be a first for this submarket, according to the project team. Thomas Didio Jr. and Michael Mataras of JLL arranged the senior loan portion of the financing package through Centennial Bank and the mezzanine portion through an undisclosed private lender. The borrower is New York-based Namdar Realty Group. Details on floor plans, amenities and a construction timelines were not disclosed.
FAIR LAWN, N.J. — Locally based investment firm TFE Properties has acquired the 93,000-square-foot River Road Shopping Center in the Northern New Jersey community of Fair Lawn. The 6.3-acre center comprises an 18,825-square-foot single-tenant building occupied by Walgreens, an 18,900-square-foot multi-tenant building and a 54,000-square-foot building that was formerly occupied by grocer ShopRite. The new ownership plans to implement a value-add program to the multi-tenant and former grocery buildings. Jose Cruz, Kevin O’Hearn, J.B. Bruno and Ryan Robertson of JLL represented the seller, Bon-Marc Realty Co., in the transaction and procured TFE Properties as the buyer.