REBusinessOnline

GSAM Real Estate, Madison Marquette Acquire Retail Center in Newark

NEWARK, N.J. — Goldman Sachs Asset Management Private Real Estate and Madison Marquette have acquired Springfield Avenue Marketplace, a newly constructed, 112,000-square-foot retail center in Newark. The sales price was not disclosed. The fully occupied property is anchored by a ShopRite grocery store and includes a mix of restaurant, retail and medical tenants. The seller was not disclosed. Springfield Avenue Marketplace is located at the intersection of Springfield Avenue and Jones Street, …

NAI Hanson Negotiates Sale of 2,200 SF Retail Property in New Jersey

BLOOMINGDALE, N.J. — NAI James E. Hanson has negotiated the sale of a 2,200-square-foot retail property in Bloomingdale. The sales price was undisclosed. LJ Koch of NAI James E. Hanson represented the seller, Waldo LLC, in the transaction. The buyer was undisclosed. Located at 217 Hamburg Turnpike, the building previously served as the home of Walker’s Deli. The new owner plans to renovate and reopen the space as a high-end café, which will feature unique coffee drinks, homemade baked …

CBRE Negotiates Sale of 303,777 SF Office Complex in Paramus, New Jersey

PARAMUS, N.J. — CBRE has negotiated the sale of Country Club Plaza, a 303,777-square-foot office complex in Paramus. The sales price was undisclosed. Located at 115 and 117 W. Century Road, the two-building complex is currently 97 percent leased to two investment-grade tenants. Jeffrey Dunne, Jeremy Neuer, Travis Langer and Zachary McHale of CBRE Institutional Properties represented the seller, a partnership of Garrison Investment Group and Onyx Equities, in the transaction. The buyer was …

MRC Provides $67.5M Acquisition Loan for Multifamily Project in New Jersey

HARRISON, N.J. — Madison Realty Capital has provided $67.5 million in acquisition and construction financing for a 205-unit multifamily development project and an adjacent development site in Harrison. The loan allows the borrower, a partnership between Accordia Realty Ventures and Eastone Equities, to acquire both sites and finish construction of the 205-unit first phase of the project, which is currently topped off and approximately 60 percent complete. The development site has been …

NKF Arranges $15.8M Sale of Flex Facility in Clark, New Jersey

CLARK, N.J. — NKF has arranged the $15.8 million sale of a 108,000-square-foot flex facility in Clark. Located at 175-195 Terminal Ave., the property is fully leased as the headquarters of L’Oréal’s North American R&D division. The seven-acre property includes a single-story R&D space that was recently renovated. Steven M. Schultz and Tony D. Georgiev of NKF represented the seller, Denholtz Associates, in the transaction. The buyer was

Marcus & Millichap Brokers $10.5M Sale of Office Building in New Jersey

CLARK, N.J. — Marcus & Millichap has brokered the $10.5 million sale of a 76,000-square-foot, five-story office building in Clark. Located at 67 Walnut Ave., the property was 97 percent occupied at the time of sale. Fahri Ozturk, Rick Lechtman, Ben Sgambati and Alan Cafiero of Marcus & Millichap represented the seller in the transaction, a joint venture between Mountain Development Corp. and Bukiet Building and Management Co. The buyer was a private

G.S. Wilcox & Co. Secures $17.6M Refinancing for Industrial Facility in New Jersey

SOUTH BRUNSWICK, N.J. — G.S. Wilcox & Co. has secured a $17.6 million loan to refinance an industrial facility in South Brunswick. Located at 1100 Cranbury South River Road, the 28-acre site contains a one-story industrial building with 340,900 rentable square feet of space. The building features 40 exterior loading docks and four drive-in doors. Gretchen Wilcox and Albert Raymond of G.S. Wilcox represented the undisclosed borrower in securing the financing through lender Thrivent …

Fujitsu General America Signs 155,000 SF Industrial Lease in Piscataway, New Jersey

PISCATAWAY, N.J.— Fujitsu General America Inc. has signed a 155,000-square-foot industrial lease at the Rockefeller Group Logistics Center in Piscataway. Fujitsu General is the third company to sign a lease at the five-building, 2.1 million-square-foot project. Other tenants include Humanscale and Best Buy. Fujitsu General provides ductless cooling and heating systems for residential and commercial use. Jules Nissim, Stan Danzig and Marc Petrella of Cushman & Wakefield represented the …

Northeast Capital Group Acquires Office Property in New Jersey for $9.9M

MONTVALE, N.J. — Northeast Capital Group has acquired a 93,916-square-foot office property in Montvale for $9.9 million. Located at 3 Paragon Drive, the property is currently 96 percent leased to two tenants, Pentax of America and Turner Construction Co. The property is on a nine-acre site. Michael Klein and Porter Terry of HFF represented Northeast Capital Group in securing acquisition financing through Valley National Bank. The seller was

J.P. Management Acquires Apartment Building in Fairview, New Jersey for $43M

FAIRVIEW, N.J. — J.P. Management has acquired the Fairview, a 12-story apartment property in Fairview for $43 million. Located at 371 Bergen Boulevard, the property consists of 146 units and was fully renovated in 2017. Amenities at the property include a swimming pool, fitness center, covered parking and views of the New York City skyline. Jose Cruz, Stephen Simonelli, Kevin O’Hearn, Michael Oliver, Jordan Avanzato and Ryan Robertson of HFF represented the seller, Roizman Development Inc., …

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