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WoodBrook-at-Randolph-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

Woodmont, Canoe Brook Complete 199-Unit Apartment Complex in Randolph, New Jersey

by Taylor Williams

RANDOLPH, N.J. — A partnership between Woodmont Properties and Canoe Brook Development has completed WoodBrook at Randolph, a 199-unit apartment complex in Northern New Jersey. The property comprises a four-story mid-rise building with 97 flats and seven buildings with 102 multi-story townhome-style residences. Unit feature one- to three-bedroom floor plans and dual-sink vanities, soaking tubs, full-size washers and dryers, private patios or balconies and keyless entry systems. Amenities include a sports simulator, pool, coworking space, yoga room and a fitness center. Leasing began last August.

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AcquisitionsIndustrialNew JerseyNortheast

NAI DiLeo-Bram Negotiates $10.5M Sale of Industrial Building in Piscataway, New Jersey

by Taylor Williams

PISCATAWAY, N.J. — NAI DiLeo-Bram & Co. (NAIDB) has negotiated the $10.5 million sale of a 41,309-square-foot industrial building in the Northern New Jersey community of Piscataway. According to LoopNet Inc., the building at 281 Centennial Ave. was originally constructed in 1973. Robert J. DiLeo, Kyle Gerace and Robert V. DiLeo of NAIDB represented both the seller, HVAC services company Binsky & Snyder, and the buyer, Eastern Lift Truck Co., in the transaction.

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IndustrialLoansNew JerseyNortheast

Cushman & Wakefield Arranges Financing for IOS Facility in South Plainfield, New Jersey

by Taylor Williams

SOUTH PLAINFIELD, N.J. — Cushman & Wakefield has arranged an undisclosed amount of acquisition financing, as well as joint venture equity, for an approximately 8-acre industrial outdoor storage (IOS) facility in South Plainfield, about 40 miles southwest of New York City. The facility at 200 Saint Nicholas Ave. houses two maintenance facilities totaling 10,000 and 20,000 square feet. John Alascio, T.J. Sullivan and Chris Meloni led the transaction for Cushman & Wakefield on behalf of the sponsor, Ridgecut Road.

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LATITUDE-Parsippany-New-Jersey
LoansNew JerseyNortheastOffice

Cushman & Wakefield Arranges $80M Loan for Refinancing of Northern New Jersey Office Campus

by Taylor Williams

PARSIPPANY, N.J. — Cushman & Wakefield has arranged an $80 million loan for the refinancing of LATITUDE, a 35-acre office campus located in the Northern New Jersey community of Parsippany. LATITUDE features 524,859 square feet of office space across multiple buildings. Tenants include Gilead, FM Global, Mead Johnson, Essential Homes and Sax Wealth Advisors. Oak Funding, a locally based bridge lender and private equity real estate firm, along with Oak North Bank, provided the debt. Chuck Kohaut, Brad Domenico, David Bernhaut, Alexander Hernandez, Frank Stanislaski, Bill Baunach and Jack Subers led the debt placement efforts for Cushman & Wakefield. The borrower, a partnership between Rubenstein Partners and Vision Real Estate Partners, first acquired LATITUDE in 2017 and subsequently renovated the campus, inclusive of the addition of 30,000 square feet of new amenities.

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AcquisitionsIndustrialNew JerseyNortheast

Doors & Spaces Buys 32,850 SF Industrial Facility in Voorhees, New Jersey

by Taylor Williams

VOORHEES, N.J. — Doors & Spaces, a regional investment firm focused on small-bay industrial product, has purchased a 32,850-square-foot facility in Voorhees, located in Southern New Jersey’s Camden County. The sales price was $4.1 million. The facility was built on a 3.3-acre site at 476 Centennial Blvd. in 1987 and was fully leased at the time of sale to eight tenants. The seller was not disclosed.

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DevelopmentMultifamilyNew JerseyNortheast

LANDMARK Nears Completion of 100-Unit Multifamily Project in Plainfield, New Jersey

by Taylor Williams

PLAINFIELD, N.J. — Local developer LANDMARK is nearing completion of CENTURION Sleepy Hollow, a 100-unit multifamily project located in the Northern New Jersey community of Plainfield. Designed by Rotwein + Blake with interiors by Mary Cook Associates, CENTURION Sleepy Hollow offers one- and two-bedroom units, as well as retail space. Amenities include a fitness center, resident lounge, coworking space and a rooftop terrace. The first move-ins began late last summer.

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AcquisitionsMultifamilyNew JerseyNortheast

ICON Real Estate Advisors Negotiates $7.5M Sale of Newark Apartment Building

by Taylor Williams

NEWARK, N.J. — Local brokerage firm ICON Real Estate Advisors has negotiated the $7.5 million sale of a 58-unit apartment building in Newark. The building at 469 Elizabeth Ave. offers one-, two- and three-bedroom units. David Jarvis and David Oropeza of ICON represented the seller, an entity doing business as Newark 469 Elizabeth LLC, in the transaction and procured the buyer, Dove Management.

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JFK-Boulevard-Jersey-City
DevelopmentLoansMultifamilyNew JerseyNortheastWalker & Dunlop

Nasser Freres Receives $375M Construction Loan for Jersey City Apartment Tower

by Taylor Williams

NEW YORK CITY — Developer Nasser Freres has received a $375 million construction loan for JFK Boulevard, an 840-unit apartment tower that will be located in the Journal Square area of Jersey City. The building will offer studio, one-, two- and three-bedroom units, 10 percent of which will be designated as affordable housing. Amenities will include a spa, fitness center, multi-sport court, coworking and library lounges, game and screening rooms, an outdoor pool with sun decks, dog run, pet spa and a rooftop lounge. In addition, JFK Boulevard will feature 50,000 square feet of retail space that will be anchored by an organic grocer. Keith Kurland, Aaron Appel, Adam Schwartz, Jonathan Schwartz, Dustin Stolly, Sean Reimer, Jordan Casella, Christopher de Raet and Jack Krentzman of Walker & Dunlop arranged the floating-rate, interest-only loan through Madison Realty Capital. Completion is slated for early 2029.

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AcquisitionsIndustrialNew JerseyNortheast

JLL Negotiates Sale of 72,908 SF Industrial Portfolio in Rockaway, New Jersey

by Taylor Williams

ROCKAWAY, N.J. — JLL has negotiated the sale of a portfolio of two industrial buildings totaling 72,908 square feet in the Northern New Jersey community of Rockaway. The shallow-bay buildings at 200 and 300 Roundhill Drive, which were fully leased at the time of sale, were constructed on a combined between 1987 and 1990 and feature clear heights of 20 feet. Nicholas Stefans, Jason Lundy and Luke Ceccoli of JLL represented the seller, North Jersey Development Group, in the transaction and procured the buyer, Faropoint.

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AcquisitionsNew JerseyNortheastOffice

Cushman & Wakefield Brokers $17M Sale of Office Building in West Orange, New Jersey

by Taylor Williams

WEST ORANGE, N.J. — Cushman & Wakefield has brokered the $17 million sale of a 129,298-square-foot office building in West Orange, about 20 miles west of New York City. The newly renovated building sits on an 8.7-acre site at 300 Executive Drive and was fully leased at the time of sale. Andrew Schwartz, Jordan Sobel, Andre Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the seller, Triumvirate Realty, in the transaction and procured the buyer, an entity doing business as Executive Drive W Orange LLC. Brian Anderson and Eddie Miro, also with Cushman & Wakefield, arranged acquisition financing for the deal.

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