Monday, July 21, 2025
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AcquisitionsNew JerseyNortheastOffice

Regal Ventures Sells Five Metro Philadelphia Office Buildings for $51M

by Taylor Williams

MOUNT LAUREL, N.J. — Philadelphia-based investment firm Regal Ventures has sold a quintet of office buildings totaling 398,460 square feet in Mount Laurel, about 20 miles east of Philadelphia. California-based Top Terraces Inc. purchased the portfolio for $51 million. Each of the buildings totals 79,692 square feet, with four of the buildings currently occupied by affiliates of defense contractor Lockheed Martin and one currently vacant. Illinois-based brokerage firm The Boulder Group negotiated the deal. Regal Ventures originally purchased the properties in September 2021 for $35 million.

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AcquisitionsIndustrialNew JerseyNortheast

Faropoint Sells National Industrial Portfolio for $481M

by Taylor Williams

HOBOKEN, N.J. — Northern New Jersey-based investment firm Faropoint has sold a national portfolio of 109 industrial properties totaling approximately 6.8 million square feet of $481 million. The properties are largely concentrated in Atlanta, Houston, Philadelphia and Memphis and feature an average building size of 62,000 square feet. At the time of sale, the portfolio was 98 percent leased to roughly 200 local, regional and national tenants. The buyer was not disclosed. Eastdil Secured served as Faropoint’s financial advisor on the deal.

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AcquisitionsMultifamilyNew JerseyNortheast

Cushman & Wakefield Brokers $51.7M Sale of Multifamily Property in Fort Lee, New Jersey

by Taylor Williams

FORT LEE, N.J. — Cushman & Wakefield has brokered the $51.7 million sale of The Sterling, a 128-unit multifamily property located in the Northern New Jersey community of Fort Lee. The community’s unit mix consists of 14 studios, 56 one-bedroom apartments, 56 two-bedroom residences and two four-bedroom units. Communal amenities include an updated lobby, pool and laundry facilities. Niko Nicolaou, Brian Whitmer, Ryan Dowd and Will Gerlin of Cushman & Wakefield represented the undisclosed seller and procured the buyer, Blue Diamond Equities, in the transaction.

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IndustrialLoansNew JerseyNortheast

Thorofare Capital Provides $28.5M Construction Loan for Industrial Project in Freehold, New Jersey

by Taylor Williams

FREEHOLD, N.J. — Los Angeles-based Thorofare Capital has provided a $28.5 million construction loan for a 206,881-square-foot industrial project that will be located in Freehold, an eastern suburb of Trenton. The facility will feature a clear height of 36 feet. The loan carries a two-year initial term and flexible prepayment options. The name of the locally based borrower was not disclosed.

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Market ReportsNew JerseyNortheastNortheast Market ReportsRetail

Healthy Leasing Activity, Absorption Prevail in Northern New Jersey Retail Market

by Taylor Williams

By Brian Katz (CEO), Amy Staats (vice president), Jonathan Greenberg (director), Adam Caplan (director) and Hugh Scullin (vice president) of Katz & Associates The Northern New Jersey retail real estate market has been flourishing in the post-COVID-19 era. Inventory continues to shrink across the board, with exceptional demand for drive-thru locations and mid-size boxes. Furthermore, the modern, well-anchored neighborhood and power centers seldom have more than one or two small shop vacancies. Some categories in high demand include discount apparel, grocery, food, health and beauty, fitness and medical. Northern New Jersey specifically benefits from its critical mass and its ease of access to main roads and points of entry. Tenants that have been able to refocus and adapt have thrived in a market that already has a lot going for it. Simply put, the post-COVID bounce has been better than we could have imagined, and from a company standpoint, the pipeline of deals that are in the works or have closed has been among the strongest in our history. Leasing Activity Leasing activity is up. Market adjustments aside, leasing activity has pretty much returned to pre-pandemic levels. In some instances, it’s even easier to get deals across the finish line …

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AcquisitionsIndustrialNew JerseyNortheast

EverWest Real Estate Buys Northern New Jersey Warehouse for $37.1M

by Taylor Williams

EAST RUTHERFORD, N.J. — Denver-based EverWest Real Estate Investors has purchased a 117,000-square-foot warehouse in the Northern New Jersey community of East Rutherford for $37.1 million. Building features include a clear height of 26 feet, 10 dock-high doors, one drive-in door and 16,000 square feet of office space. The seller, cleaning and sanitizing products provider Diamond Chemical, will continue to lease the space as the building’s sole occupant.

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AcquisitionsIndustrialNew JerseyNortheast

Kirker Enterprises Sells 152,000 SF Industrial Building in Paterson, New Jersey

by Taylor Williams

PATERSON, N.J. — Kirker Enterprises Inc., a manufacturer that serves the fashion industry, has sold a 152,000-square-foot industrial building located in the Northern New Jersey community of Paterson. The building sits on three acres and features four drive-in doors, 12 loading docks and clear heights of 14 to 22 feet. Russell  Verducci and Eric Demmers of NAI James E. Hanson teamed with Hanna Commercial Real Estate to represent the seller in the transaction. The buyer was an entity doing business as 55 East 6 LLC.

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AcquisitionsIndustrialNew JerseyNortheast

Seagis Property Group Buys Northern New Jersey Industrial Facility for $24M

by Taylor Williams

METUCHEN, N.J. — Locally based investment firm Seagis Property Group has purchased a 158,641-square-foot industrial facility located in the Northern New Jersey community of Metuchen. The front-load building features a clear height of 21 feet, 20 tailgate doors, two drive-in ramps and parking for 25 trailers. The seller was New Jersey-based trucking company P&V Warehouse Distribution. Steve Bussel of Bussel Realty Corp. represented both parties in the transaction. Seagis plans to implement a multimillion-dollar value-add program.

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AcquisitionsIndustrialNew JerseyNortheast

Temco Logistics Signs 57,076 SF Industrial Lease in East Rutherford, New Jersey

by Taylor Williams

EAST RUTHERFORD, N.J. — California-based Temco Logistics has signed a 57,076-square-foot industrial lease in the Northern New Jersey community of East Rutherford. The space features a clear height of 24 feet, two drive-in ramps and 4,700 square feet of office space. Scott Perkins, Chris Todd and William Ericksen of NAI James E. Hanson represented the tenant in the lease negotiations. Monte Radfar and Eric Lewin of Team Resources represented the landlord, Safer Development & Management.

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AcquisitionsIndustrialNew JerseyNortheast

Cushman & Wakefield Brokers $7.3M Sale of Industrial Portfolio in Hackensack

by Taylor Williams

HACKENSACK, N.J. — Cushman & Wakefield has brokered the $7.3 million sale of the Burlews Industrial Portfolio, a collection of seven industrial buildings totaling 44,500 square feet in Hackensack. Andrew Schwartz, Jordan Sobel and André Balthazard of Cushman & Wakefield represented the seller, Brentwood Realty, and procured the buyer, private investor Dave Goldberg, in the transaction. The portfolio was fully leased to 11 tenants at the time of sale.

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