SECAUCUS, N.J. — A partnership between New Jersey-based Woodmont Properties, Canoe Book Development and affordable/workforce housing owner-operator PIRHL has completed The Waterton, a multifamily project in the Northern New Jersey community of Secaucus. Of the property’s 116 units, 23 are reserved for households earning between 20 and 60 percent of the area median income. Residences are available in studio, one-, and two-bedroom floor plans. Amenities include a fitness center, entertainment lounge, children’s playroom, coffee bar and outdoor grilling and dining areas. Rents start at $2,600 per month for a studio apartment.
EAST ORANGE, N.J. — Northmarq has provided a $16 million Fannie Mae permanent loan for The Harrison, a 103-unit apartment complex located in the Northern New Jersey community of East Orange. The newly built property offers studio, one- and two-bedroom units with private balconies, stainless steel appliances and walk-in closets. Robert Ranieri of Northmarq originated the loan on behalf of the undisclosed borrower.
JERSEY CITY, N.J. — A joint venture between Kushner Real Estate Group (KRE) and Northwestern Mutual has completed the lease up of 351 Marin, a 507-unit multifamily project in Jersey City’s Powerhouse Arts District. The property is now fully occupied. Designed by Hollwich Kushner and HLW Architects, the 38-story building houses studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops and Whirlpool washers and dryers. Amenities include a sky lounge, pool, fitness center with a yoga studio, outdoor grilling stations, community garden and a dog park.
MIDLAND PARK AND FAIR LAWN, N.J. — Azarian Realty Co. has signed two new office leases in Northern New Jersey. Two therapy groups have respectively leased 1,196 and 2,331 square feet in Midland Park and Fair Lawn. Kevin Pelio and James Azarian of Azarian Realty represented both parties in the first set of lease negotiations. The duo also represented the landlord in the second deal, while Nupur Darji of Sure Sell Real Estate represented the tenant.
MONTCLAIR, N.J. — Locally based brokerage firm Hudson Atlantic Realty has arranged the $13.5 million sale of two transit-served multifamily properties totaling 56 units and one commercial space in the Northern New Jersey community of Montclair. The properties include a 27-unit building at 10 Roosevelt Place and a 29-unit building with a commercial space at 47 N. Fullerton Ave. Both buildings were constructed in the early 1920s. Hudson Atlantic Realty represented the undisclosed seller in the transaction. The buyer was also not disclosed.
LIVINGSTON, N.J. — Azarian Realty Co. has signed two new tenants to leases at Livingston Town Center, a 65,000-square-foot shopping center in Northern New Jersey. Spa concept Bleu Mirage Aesthetics has leased 1,886 square feet, and food and beverage user Mango Mango Dessert has leased 1,323 square feet. Kevin Pelio of Azarian Realty represented both parties in the first set of lease negotiations. Pelio and James Azarian represented both sides in the second deal.
UNION, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Greenleaf at Union, a 109,828-square-foot shopping center in Northern New Jersey. Built in 2017 and anchored by LA Fitness and Bob’s Discount Furniture, the property was fully leased at the time of sale. Other tenants include Sleep Number, First Watch, Red Wing Shoes and Crumbl Cookies. Brad Nathanson and Steven Siegel of IPA represented the seller, Sun Equity Partners LLC, in the transaction. The duo also procured the buyer, Prestige Properties.
NETCONG, N.J. — Landmark Cos. LLC has acquired a 126-unit multifamily property located at 34 Bank St. in the Northern New Jersey community of Netcong for $44.5 million. The newly constructed, transit-served community offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and vinyl wood plank flooring. Amenities include grilling stations, fire pits, a clubhouse and fitness center. Eric Johnson of NAI DiLeo-Bram represented Landmark Cos. in the transaction. The seller was not disclosed.
PENNSAUKEN, N.J. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Ivystone Senior Living in Pennsauken, located across the Delaware River from Philadelphia. The community features 100 independent living residences, 43 assisted living units and 21 memory care units. The property was originally constructed in 1965. Priority Life Care, a court-ordered receiver as the property was in bankruptcy, sold the asset to UNPPG Management LLC, a privately held owner-operator based in New York. The sales price was not disclosed.
CHERRY HILL, N.J. — Camden County has signed a 154,211-square-foot office lease at Woodcrest Corporate Center in Cherry Hill, a suburb of Philadelphia. The deal brings the 352,520-square-foot complex to full occupancy. Other tenants at Woodcrest Corporate Center include Auto Lenders, Radian, Penn National Gaming, Jefferson Health Systems, Conduent and Solar Xchange. JLL represented the landlord, Crown Properties, in the lease negotiations.