Tuesday, August 26, 2025
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Paramus-Plaza
AcquisitionsNew JerseyNortheastRetail

Cushman & Wakefield Brokers $36.8M Sale of Northern New Jersey Shopping Center

by Taylor Williams

PARAMUS, N.J. — Cushman & Wakefield has brokered the $36.8 million sale of Paramus Plaza, a 153,494-square-foot shopping center in Northern New Jersey. The center was fully leased at the time of sale to tenants such as Hobby Lobby, Marshalls, Ashley, Skechers and Chipotle Mexican Grill. Frank DiTommaso, Gary Gabriel, David Bernhaut, Andy Merin, Max Helfman and Mark Gilbert of Cushman & Wakefield represented the seller, a partnership between Acadia Realty Trust and Fortress Investment Group, in the transaction. Brad Domenico of Cushman & Wakefield arranged acquisition financing through Bank United on behalf of the buyer, a partnership between DRA Advisors and an affiliate of Crown Acquisitions.

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AcquisitionsNew JerseyNortheastRetail

NAI DiLeo-Bram Brokers $5.5M Sale of Retail Center in Edison, New Jersey

by Taylor Williams

EDISON, N.J. — NAI DiLeo-Bram has brokered the $5.5 million sale of a 21,929-square-foot retail center in Edison, located roughly midway between Newark and Trenton. The center at 1825 Route 27 consists of a 13,769-square-foot plus vacant basement space and an 8,160-square-foot building whose three units are fully leased. Marc Shein and Robert DiLeo of NAI DiLeo-Bram represented the seller, Sam Ash Properties Corp., in the transaction. Remax represented the buyer, an undisclosed, out-of-state grocer that also plans to occupy the building.

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DevelopmentNew JerseyNortheastOffice

Freshpet to Open 30,000 SF Global Headquarters in Bedminster, New Jersey

by Taylor Williams

BEDMINSTER, N.J. — Pet food provider Freshpet Inc. (NASDAQ: FRPT) will open a 30,000-square-foot global office headquarters in Bedminster, about 60 miles west of Manhattan. Freshpet’s space will be joined by approximately 20,000 square feet of planned retail, dining and amenity space to anchor the Bedminster Village Square campus. Advance Realty Investors owns the campus and is developing the facility, with Iron Hill Construction Management serving as the general contractor. ConnectOne Bank is financing the build-to-suit project. Completion is slated for early 2025.

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AcquisitionsMultifamilyNew JerseyNortheast

Hudson Atlantic Negotiates $20M Sale of Multifamily Property in Robbinsville, New Jersey

by Taylor Williams

ROBBINSVILLE, N.J. — Regional brokerage firm Hudson Atlantic Realty has negotiated the $20 million sale of Southside Lofts, a 64-unit multifamily property in the Central New Jersey community of Robbinsville. The seller, Sharbell Development, delivered the property in 2020. According to Apartments.com, Southside Lofts offers one- and two-bedroom units that range in size from 713 to 1,207 square feet and amenities such as a fitness center, lounge and a rooftop terrace. Adam Zweibel of Hudson Atlantic represented Sharbell Development in the transaction and procured the undisclosed buyer.

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DevelopmentLoansMultifamilyNew JerseyNortheast

JLL Arranges $13.1M in Construction Financing for Vroom Street Apartments in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — JLL has arranged $13.1 million in construction financing for Vroom Street Apartments, a 42-unit multifamily project that will be located in the Journal Square neighborhood of Jersey City. The property will house five studios, 14 one-bedroom units and 23 two-bedroom units with an average size of 913 square feet. Max Custer and Salvatore Buzzerio of JLL arranged the loan through First Bank on behalf of the developer, Urban Street Properties. Construction is slated for a fall 2025 completion.

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861-Sloan-Ave.-Hamilton-New-Jersey
DevelopmentIndustrialLoansNew JerseyNortheast

Lincoln Equities Group Receives $60.8M Construction Loan for Central New Jersey Industrial Project

by Taylor Williams

HAMILTON, N.J. — Lincoln Equities Group has received a $60.8 million construction loan for a 420,024-square-foot industrial project that will be located in the Central New Jersey community of Hamilton. The site at 861 Sloan Ave. spans 48 acres and offers proximity to both interstates 95 and 295. Building features will include a clear height of 40 feet, 84 loading docks, two drive-in doors and parking for 556 cars and 81 trailers. John Alascio, Chuck Kohaut, T.J. Sullivan and Jason Blankfein of Cushman & Wakefield arranged the loan through Los Angeles-based PCCP on behalf of Lincoln Equities, which is developing the property in partnership with PGIM. Cushman & Wakefield also previously arranged the sale of the site.

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IndustrialLeasing ActivityNew JerseyNortheastRetail

Pickleball Kingdom to Open 40,500 SF Facility in Hamilton, New Jersey

by Taylor Williams

HAMILTON, N.J. — Pickleball Kingdom will open a 40,500-square-foot, full-building lease at 1100 Negron Drive, an industrial flex property in the Central New Jersey community of Hamilton. The space will house 14 courts as well as conference rooms, meeting areas and a lounge. New Jersey-based Denholtz Properties owns the building, which was completed in 2023 and features a clear height of 26 feet. The opening is scheduled for the fall.

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DevelopmentMultifamilyNew JerseyNortheast

TFE Properties Completes 174-Unit Multifamily Project in Somerville, New Jersey

by Taylor Williams

SOMERVILLE, N.J. — New Jersey-based investment firm TFE Properties has completed Kirby Village, a 174-unit multifamily project in Somerville, about 50 miles southwest of Manhattan. Kirby Village offers one- and two-bedroom units that range in size from 800 to 1,452 square feet. The townhome-style residences feature stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a pool, fitness center, dog park and a children’s play area. Rents start at roughly $2,400 per month for a one-bedroom apartment.

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DevelopmentMultifamilyNew JerseyNortheastSeniors Housing

DIGroup, JCHC Complete Renovation, Expansion of Northern New Jersey Seniors Housing Property

by Taylor Williams

WHIPPANY, N.J. — DIGroup Architecture and Jewish Community Housing Corp. (JCHC) have completed a renovation and expansion project at Lester Senior Living in Whippany, approximately 30 miles west of Manhattan. The facility provides independent living and assisted living services. The project added about 20,000 square feet of new amenities. The project team also worked to create more interactive spaces for residents by enhancing the café/reading room and refurbishing the dining room. A new theater was added to the second level, and the atrium was also renovated.

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ExtraSpace-Storage-Budd-Lake-New-Jersey
DevelopmentIndustrialNew JerseyNortheastSelf-Storage

Quinlan Development Completes 761-Unit Self-Storage Facility in Budd Lake, New Jersey

by Taylor Williams

BUDD LAKE, N.J. — New York City-based Quinlan Development Group has completed a 761-unit self-storage facility in the Northern New Jersey community of Budd Lake. The facility spans 95,200 net rentable square feet across four buildings and offers a mix of climate- and non-climate-controlled units. The project also features direct unit lighting and hydraulic elevators throughout. Ware Malcomb designed the project, and Gerard Construction served as the general contractor. ExtraSpace Storage will operate the facility.

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