REBusinessOnline

Progress Capital Places $54.5M Construction Loan for Newark Educational Project

NEWARK, N.J. — Locally based mortgage banking and advisory firm Progress Capital has placed a $54.5 million construction loan for an educational project in Newark. The borrower, an entity doing business as 155 Jefferson LLC, plans to redevelop the site of the former St. James Hospital, which has been vacant for 15 years, into a 179,100-square-foot specialized higher learning center. Specifically, the new facility will support students studying architecture, computer-aided design and …

Showman Fabricators Signs 78,000 SF Industrial Lease in Fairfield, New Jersey

FAIRFIELD, N.J. — Custom metal products provider Showman Fabricators has signed a 78,000-square-foot industrial lease at 15 Law Drive in the Northern New Jersey community of Fairfield. The newly renovated facility features a clear height of 18 feet and four loading docks. Chuck Fern, Thomas Tucci, Torsten Thaler and Natalie Gorga of Cushman & Wakefield represented both Showman Fabricators and the landlord, The STRO Cos., in the lease

Cushman & Wakefield Brokers $97.5M Sale of Seniors Housing Community in Hamilton, New Jersey

HAMILTON, N.J. — Cushman & Wakefield has brokered the $97.5 million sale of Homestead at Hamilton, a 195-unit seniors housing community located outside of Trenton in Central New Jersey. Homestead at Hamilton sits on 20 acres and offers independent living, assisted living and memory care services. Amenities include a restaurant-style dining room, a pub, game and card room, fitness center and a rehabilitation gym. Richard Swartz, Jay Wagner, Jim Dooley and Jack Griffin of Cushman & …

PGIM Provides $87.1M Loan for Refinancing of Multifamily Asset in Montclair, New Jersey

MONTCLAIR, N.J. — PGIM Real Estate has provided an $87.1 million loan for the refinancing of Valley & Bloom, a 258-unit multifamily property located in the Northern New Jersey community of Montclair. Valley & Bloom features studio, one-, two- and three-bedroom units with stainless steel appliances and full-size washers and dryers, as well as roughly 20,000 square feet of both office and retail space. Residential amenities include two fitness centers, two rooftop decks, two courtyard …

Triple Five Group to Open 10,000 SF Food Hall at American Dream in East Rutherford, New Jersey

EAST RUTHERFORD, N.J. — Triple Five Group, the owner of the 3 million-square-foot American Dream shopping, dining and entertainment destination in Northern New Jersey, will soon open a 10,000-square-foot food hall. The food hall will feature seven concepts, including Van Leeuwen Ice Cream, Best Pizza and Vanessa’s Dumpling House, as well as wine bar Vinoteca and confectionary Lady M. The space will include seating and game areas and will be located near the live music and performance stage. …

2020 Acquisitions Underway on 610,000 SF Distribution Center in Mansfield, New Jersey

MANSFIELD, N.J. — Developer 2020 Acquisitions is underway on construction of a 610,000-square-foot distribution center in the Central New Jersey city of Mansfield. The site spans 47 acres and is located at 5206 Route 130. The facility will feature 123 loading docks, four drive-in ramps, a clear height of 40 feet, an ESFR sprinkler system and parking for 95 trailers and 173 cars. Delivery is slated for this summer. JLL has been tapped to lease the

Garden Communities Completes Lease-Up of 198-Unit Apartment Community in Basking Ridge, New Jersey

BASKING RIDGE, N.J. — Locally based developer Garden Communities has completed the lease-up of the initial phase of The Enclave at Dewy Meadows, a 198-unit apartment community in the Northern New Jersey community of Basking Ridge. Construction of the second phase is underway and expected to be complete by the end of the year. The Enclave at Dewy Meadows features one-, two- and three-bedroom units with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities …

NAI Hanson Brokers Sale of 54,000 SF Industrial Building in Mahwah, New Jersey

MAHWAH, N.J. — NAI James E. Hanson has brokered the sale of a 54,000-square-foot industrial building in Mahwah, located on the New York-New Jersey border. The building sits on six acres and features a clear height of 16 feet. Russ Verducci and Eric Demmers of NAI Hanson represented the seller, Hendon Realty Associates LLC, in the transaction. The name and representative of the buyer were not

Joint Venture to Develop 1 MSF Industrial Project in Sayreville, New Jersey

SAYREVILLE, N.J. — A joint venture between Trammell Crow Co. (TCC) and CBRE Investment Management will develop Arsenal Trade Center, a roughly 1 million-square-foot industrial project in the Central New Jersey community of Sayreville. The site spans 74 acres and is located four miles from the New Jersey Turnpike. Arsenal Trade Center will consist of three rear-load buildings spanning 284,341, 341,833 and 451,602 square feet. Each building will feature clear heights of 40 feet and ample car …

Hudson Atlantic Arranges $15.6M Sale of Northern New Jersey Multifamily Portfolio

EAST ORANGE, N.J. — Hudson Atlantic Realty has arranged the $15.6 million sale of a portfolio of four multifamily properties totaling 96 units in the Northern New Jersey community of East Orange. The sales price equates to $162,500 per unit. All four properties are located near the city’s downtown area and recently received renovations to their unit interiors, including new floors, upgraded kitchens and onsite laundry facilities. The buyer and seller were not

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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