DENVILLE, N.J. — Cushman & Wakefield has arranged the $7.2 million sale of a 42,000-square-foot industrial building located in the Northern New Jersey community of Denville. The property sits on 3.4 acres, features a clear height of 18 feet and is currently leased to three tenants. Andrew Schwartz, Jordan Sobel and Andre Balthazard of Cushman & Wakefield represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
FORT LEE, N.J. — CBRE has brokered the $116.5 million sale of Hudson Lights, a 276-unit apartment community located in the Northern New Jersey community of Fort Lee that was completed in 2016. According to Apartments.com, the property offers one-, two- and three-bedroom units ranging in size from 666 to 2,072 square feet. The amenity package comprises a pool with cabanas, fitness center with a yoga studio, resident lounge with a billiards table and catering kitchen and a children’s playroom. Jeff Dunne, Stuart MacKenzie, Eric Apfel, Zach McHale, Fahri Ozturk, Richard Gatto and Travis Langer of CBRE represented the undisclosed seller in the transaction. The team also procured the buyer, a joint venture between Skylight Real Estate Partners and Los Angeles-based PCCP LLC.
CARTERET, N.J. — NAI James E. Hanson has negotiated a 406,437-square-foot industrial lease renewal in the Northern New Jersey community of Carteret. Coffee distributor Continental Terminals will continue to occupy the entirety of the building at 200 Middlesex Ave. Scott Perkins, Chris Todd, Andrew Somple, Greg James and Justin Allessio of NAI Hanson represented the landlord, an undisclosed institutional investment firm, in the lease negotiations. Tom Carragher, Steve Korfiatis, Craig Engelhardt and Chris Carragher of Newmark represented the tenant.
WEEHAWKEN, N.J. — Planet Fitness has signed a 19,317-square-foot retail sublease at Tower Plaza in the Northern New Jersey community of Weehawken. The tenant is backfilling part of a space leased to German discount grocer Lidl. Mike Testa and Bill Farkas of locally based brokerage firm Jeffery Realty represented Lidl in the sublease negotiations. Ray Villafana of Franchise Realty represented Planet Fitness.
MOONACHIE, N.J. — Metro Philadelphia-based investment firm Seagis Property Group has purchased two industrial buildings totaling 19,296 square feet in the Northern New Jersey community of Moonachie. The two standalone buildings span 9,660 and 9,636 square feet and were both vacant at the time of sale. Seagis, which plans to implement a value-add program, purchased the properties from a private ownership group that occupied the buildings for its business, Corporate Jet Support. Chris Koeck of Newmark represented both parties in the transaction.
ORANGE AND EAST ORANGE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the sale of two apartment complexes totaling 68 units in Northern New Jersey for a combined price of $8 million. The property at 57-61A E. Park St. in East Orange totals 22 units, and the complex at 453-475 Park Ave. in Orange comprises 46 units. Joni Sweetwood of Kislak represented the seller and procured the buyer, both of which were limited liability companies, in the transaction.
SOUTH PLAINFIELD, N.J. — Cushman & Wakefield has brokered the $4.5 million sale of a 28,800-square-foot industrial property in South Plainfield, about 40 miles southwest of Manhattan. The property features a clear height of 22 feet and is currently leased to Liftec Forklifts. Andy Schwartz, Jordan Sobel and Andre Balthazard of Cushman & Wakefield represented the seller, an entity doing business as Sylpan Inc., in the transaction. The trio also procured the buyer, ACSS Group LLC.
UNION, N.J. — A partnership between two New Jersey-based firms, Diversified Properties and Fidelco Realty Group, has completed Summit Court, a 396-unit multifamily project located in the Northern New Jersey community of Union. The property features one- and two-bedroom units and amenities such as a pool, outdoor grilling and dining stations, a fitness center, gaming lounge, pet play area and a catering kitchen. Rents start at $2,365 per month for a one-bedroom unit.
EAST HANOVER, N.J. — JLL has arranged a $33 million construction loan for Bridge Point East Hanover, a 314,413-square-foot industrial project in Northern New Jersey. The warehouse and distribution center will feature a clear height of 32 feet, 62 dock-high doors, 60 trailer parking spaces and 100 car parking spaces. Michael Klein, Jon Mikula and Ryan Carroll of JLL arranged the four-year, floating-rate loan through Hartford Investment Management Co. on behalf of the borrower, Bridge Industrial LLC.
TEANECK, N.J. — Locally based owner and developer Alfred Sanzari Enterprises will open Marketplace, a 3,350-square-foot food hall in the Northern New Jersey community of Teaneck. Located within the firm’s 670,000-square-foot Glenpointe campus, Marketplace has already received commitments from concepts such as kosher deli Ma’adan, Colombian coffee shop Coffeecol, French-inspired Balthazar Bakery and ice cream maker Sip N Swirl. Marketplace will officially open this Friday, Oct. 21. White Lodging will manage the venue.