REBusinessOnline

Heritage Capital Completes 89-Unit Multifamily Redevelopment Project in Hackensack

HACKENSACK, N.J. — Heritage Capital Management has completed 210 Main, an 89-unit multifamily project located just outside New York City in Hackensack. The 11-story former bank building, which was originally constructed in the 1910s, houses studio, one- and two-bedroom units and 5,500 square feet of ground-floor retail space. Units feature stainless steel appliances, walk-in closets, workspaces and terraces. Amenities include a media room and game lounge and onsite storage units. Rents start …

CBRE Negotiates $25.5M Sale of Multifamily Development Site in Jersey City

JERSEY CITY, N.J. — CBRE has negotiated the $25.5 million sale of a multifamily development site consisting of three parcels totaling 7.2 acres in Jersey City. Charles Berger, Elli Klapper, Mark Silverman, Thomas Mallaney, Bill Waxman and Kevin Dudley of CBRE represented the seller, Alpha Assembly Solutions Inc., in the transaction. The buyer was Route 440 Owner LLC. Specific plans for the new development were not

JLL Arranges $60M Loan for Refinancing of Hackensack Apartment Building

HACKENSACK, N.J. — JLL has arranged a $60 million loan for the refinancing of Excelsior II, a 267-unit apartment building located just outside of New York City in Hackensack. According to Apartments.com, the property was built in 1999, features one-, two- and three-bedroom units and offers amenities such as a pool, spa and a fitness center. Greg Nalbandian and Michael Lachs of JLL arranged the 30-year, fixed-rate loan through John Hancock Investment Management on behalf of the borrower, …

NAI Mertz Brokers Sale of 61,000 SF Industrial Building in Mount Laurel, New Jersey

MOUNT LAUREL, N.J. — NAI Mertz has brokered the sale of a 61,000-square-foot industrial building in Mount Laurel, located outside Philadelphia in Bergen County. The property is located just off I-295 near the New Jersey Turnpike and Routes 70 and 73. Jonathan Klear, Fred Meyer, Roy Kardon, Jeff Licht and Jared Licht of NAI Mertz represented the buyer, industrial investment firm Faropoint, in the transaction. The seller was not

Cushman & Wakefield Brokers Sale of 140,548 SF Industrial Complex in Woodland Park, New Jersey

WOODLAND PARK, N.J. — Cushman & Wakefield has brokered the sale of Lackawanna Business Park, a 140,548-square-foot industrial complex located at 86 Lackawanna Ave. in Woodland Park in the northern part of the state. The sales price for the three-building complex was $10.2 million. Andrew Schwartz, David Bernhaut, Gary Gabriel, Kyle Schmidt, Frank DiTommaso and Jordan Sobel of Cushman & Wakefield represented the seller, Lackawanna Associates LLC, and procured the buyer, Lackawanna …

Elion Partners Buys Industrial Property in Elizabeth, New Jersey, for $29.7M

ELIZABETH, N.J. — Miami-based investment firm Elion Partners has purchased a 207,000-square-foot industrial property in the Northern New Jersey city of Elizabeth that is located approximately two miles from Newark Liberty International Airport. The sales price $29.7 million. According to LoopNet Inc. the property was built on 8.6 acres in 1948 and renovated in 2019. The seller was not

CBRE Negotiates 130,000 SF Industrial Lease in Lodi, New Jersey

LODI, N.J. — CBRE has negotiated a 130,000-square-foot industrial lease at the former National Wholesale Liquidators building in the Northern New Jersey community of Lodi. Bill Waxman and Kevin Dudley of CBRE represented the tenant, AAA Wholesale, a supplier of household items, in the lease negotiations. The name and representative of the landlord were not

NAI DiLeo-Bram Arranges Sale of 98-Unit Apartment Complex in Alpha, New Jersey

ALPHA, N.J. — NAI DiLeo-Bram has arranged the sale of Evergreen Village, a 98-unit apartment complex in Alpha, located in the central-western part of the state. The property offers one-, two- and three-bedroom units across seven two-story buildings. Jerry Zaro and Jeffrey Meltzer of law firm Sills Cummis & Gross PC represented the undisclosed seller. David Simon of NAI DiLeo-Bram brokered the deal. The buyer was also

Gebroe-Hammer Associates Brokers $15.7M Sale of Multifamily Asset in Dover, New Jersey

DOVER, N.J. — Gebroe-Hammer Associates has brokered the $15.7 million sale of Dover Hills Apartments, a 100-unit multifamily asset in Morris County. Built in 1964, the property offers 15 studio units, 72 one-bedroom residences, 12 two-bedroom apartments and one three-bedroom unit. Debbie Pomerantz of Gebroe-Hammer represented the seller, Dover Hills Properties LLC, in the transaction. Steve Tragash, also with Gebroe-Hammer, procured the undisclosed

NAI Mertz Negotiates 300,700 SF Industrial Lease in Florence, New Jersey

FLORENCE, N.J. — NAI Mertz has negotiated a 300,700-square-foot, full-building industrial lease at 839 Railroad Avenue, a project under construction in the Southern New Jersey city of Florence. Scott Mertz of NAI Mertz represented the tenant, auto parts supplier DNA Motoring, in the lease negotiations. Tony Rod of Lee & Associates represented the developer, Denver-based Black Creek Group. Building features include 36-foot clear heights, ample trailer parking and immediate proximity to the …

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