New Jersey

Cushman & Wakefield Arranges Sale of 216,573 SF Office Complex in Basking Ridge, New Jersey

by Taylor Williams March 9, 2023

BASKING RIDGE, N.J. — Cushman & Wakefield has arranged the sale of a 216,573-square-foot office complex located at 131 Morristown Road in the Northern New Jersey community of Basking Ridge. The property consists of two interconnected buildings on a 34-acre site and offers a cafeteria, fitness center and landscaped central courtyard. David Bernhaut, Gary Gabriel, Kyle Schmidt, Frank DiTommaso, Andy Schwartz, Jordan Sobel, Andre Balthazard and Bill Baunach of Cushman & Wakefield represented the undisclosed seller in the transaction. The team also procured the buyer, Adoni Property Group. Additionally, Cushman & Wakefield has been retained as the leasing agent.

March 9, 2023

Development Multifamily New Jersey Northeast

Prism Capital Partners Completes Two Multifamily Buildings Totaling 84 Units in Dunellen, New Jersey

by Taylor Williams March 9, 2023

DUNELLEN, N.J. — Locally based developer Prism Capital Partners has completed two multifamily buildings totaling 84 units in the Central New Jersey community of Dunellen. Designed by Spiezle Architectural Group, the buildings are the second and third structures to be delivered within The Nell, a development that will ultimately consist of 252 units across six buildings. Units come in one- and two-bedroom formats, with rents starting at $2,075 per month for the former floor plan.

March 9, 2023

Development Loans New Jersey Northeast

Progress Capital Arranges $14.9M Construction Loan for Northern New Jersey Multifamily Redevelopment

by Taylor Williams March 8, 2023

ROSELLE PARK, N.J. — Locally based financial intermediary Progress Capital has arranged a $14.9 million construction loan for Hunter Lofts, a 57-unit multifamily redevelopment project in the Northern New Jersey community of Roselle Park. The site formerly housed the operations of H&H Building Supply. Six of the units will be reserved as affordable housing, and the new development will include 4,000 square feet of retail space. Kathy Anderson and Caillin Boles of Progress Capital arranged the loan through Columbia Bank on behalf of the developer, The Kontos Group.

March 8, 2023

Acquisitions New Jersey Northeast Office Retail

Cushman & Wakefield Negotiates $5.2M Sale of Office, Retail Building in Livingston, New Jersey

by Taylor Williams March 8, 2023

LIVINGSTON, N.J. — Cushman & Wakefield has negotiated the $5.2 million sale of a 27,252-square-foot office and retail building in the Northern New Jersey community of Livingston. The two-story building sits on 2.3 acres and was fully leased at the time of sale. Andy Schwartz, Brian Whitmer, Jordan Sobel and Andre Balthazard of Cushman & Wakefield represented the seller, ACFM Corp., in the transaction. The buyer was HREA LLC.

March 8, 2023

Acquisitions Industrial Lee & Associates New Jersey Northeast

Lee & Associates Brokers Sale of 20,000 SF Warehouse in Clifton, New Jersey

by Taylor Williams March 8, 2023

CLIFTON, N.J. — Lee & Associates has brokered the sale of a 20,000-square-foot warehouse in the Northern New Jersey community of Clifton. The building at 25 Styertowne Road is a single-tenant property that was fully leased to food manufacturer Pereg Gourmet at the time of sale. Josh Krantz of Lee & Associates represented the seller, New Jersey-based Kessler-Schwartz Associates, and procured the undisclosed buyer in the off-market deal.

March 8, 2023

Acquisitions Industrial New Jersey Northeast

Fennelly Associates Negotiates $7.7M Sale of Former Industrial Property in Plainsboro, N.J.

by Taylor Williams March 7, 2023

PLAINSBORO, N.J. — Locally based brokerage firm Fennelly Associates has negotiated the $7.7 million sale of an industrial property in Plainsboro, about 50 miles southwest of Manhattan. The facility, which sits on a 31-acre site and totals 50,150 square feet, was originally built in 1957 as a nuclear research facility and subsequently used for pharmaceutical research and development. Jerry Fennelly and Matt Fennelly of Fennelly Associates represented the seller, Turkey Island Corp., in the transaction and procured the buyer, Princeton Life Science Park.

March 7, 2023

Development Multifamily New Jersey Northeast

KRE Group, Russo Development Complete 78-Unit Multifamily Project in Northern New Jersey

by Taylor Williams March 7, 2023

ROCKAWAY TOWNSHIP, N.J. — A partnership between two locally based developers, KRE Group and Russo Development, has completed the latest phase of Rock Pointe, a multifamily project in the Northern New Jersey community of Rockaway. This phase adds 78 one- and two-bedroom units to the local supply, with rents starting at $2,250 per month. Rock Pointe now offers a total of 345 residences and amenities such as a pool, fitness center, children’s play area, outdoor grilling and dining stations, package lockers and a dog park.

March 7, 2023

Development Leasing Activity Multifamily New Jersey Northeast

Coldwell Banker Begins Leasing 63-Unit Apartment Complex in Passaic, New Jersey

by Taylor Williams March 7, 2023

PASSAIC, N.J. — Coldwell Banker has begun leasing South Street Lofts, a 63-unit apartment complex located in the Northern New Jersey community of Passaic. The building offers studio, one- and two-bedroom units ranging in size from 755 to 1,885 square feet,. Amenities include a fitness center, resident lounge, business center, rooftop deck, outdoor grilling stations and a dog park. Rents start at $2,500 per month, and the complex is now 40 percent preleased. The owner/developer was not disclosed.

March 7, 2023

Industrial Leasing Activity Lee & Associates New Jersey Northeast

Lee & Associates Negotiates 189,000 SF Industrial Lease in South Plainfield, New Jersey

by Taylor Williams March 6, 2023

SOUTH PLAINFIELD, N.J. — Lee & Associates has negotiated a 189,000-square-foot industrial lease in South Plainfield, about 35 miles south of Manhattan. The tenant, an undisclosed logistics group, will occupy the entirety of the building at 602 New Market Ave., which sits on 21 acres. Building features include a clear height of 36 feet, 40 exterior docks and 70 trailer parking spots. Drew Maffey and Rick Marchisio of Lee & Associates represented the tenant in the lease negotiations. Colliers represented the landlord, Bridge Development.

March 6, 2023

Industrial Loans New Jersey Northeast

G.S. Wilcox Arranges $15M Loan for Refinancing of Industrial Flex Campus in Northern New Jersey

by Taylor Williams March 6, 2023

FAIRFIELD, N.J. — Locally based mortgage banking firm G.S. Wilcox & Co. has arranged a $15 million loan for the refinancing of Madison Corporate Campus, a 350,000-square-foot industrial flex property located in the Northern New Jersey community of Fairfield. David Fryer of G.S. Wilcox arranged the financing through Ohio National Life Insurance Co. The borrower was not disclosed.

March 6, 2023

Newer Posts

Older Posts