WOODBRIDGE, N.J. — Woodmont Industrial Partners has broken ground on a 54,113-square-foot project at 51 New Brunswick Ave. in the Northern New Jersey community of Woodbridge. The facility will feature a clear height of 32 feet, seven dock doors, build-to-suit office space and ample car and trailer parking. Completion is slated for the second quarter of 2023.
JERSEY CITY, N.J. — Locally based brokerage firm B6 Real Estate Advisors has arranged the $6.5 million sale of a 31,000-square-foot multifamily development site at 70 Mallory Ave. in Jersey City that is zoned for 136 units. Yanni Marmarou, Jack Drillock and Andrea Nestico of B6 Real Estate represented the undisclosed seller in the transaction. The buyer and construction timeline were also not disclosed.
FLORHAM PARK, N.J. — Colliers has arranged the $13.2 million sale of Westminster Corporate Center, a 158,583-square-foot office campus in the Northern New Jersey community of Florham Park. The campus, which was 57 percent leased at the time of sale, comprises two three-story buildings on a 15.3-acre site. Jacklene Chesler, Patrick Norris and Joe Lane of Colliers brokered the deal. The buyer, Pentaurus, plans to implement a value-add program that will upgrade the lobby and existing fitness facilities, as well as add pickleball and basketball courts.
CLIFTON, N.J. — Summit Health has opened a 100,000-square-foot medical office building at 1255 Broad St. in the Northern New Jersey community of Clifton. Among the specialty practices housed within the facility are primary care, family medicine, dermatology, orthopedics, urology, breast care, imaging and lab services and comprehensive cancer care. Gensler designed the facility, which also features 118 exam rooms and an urgent care clinic operated by CityMD.
WEST ORANGE, N.J. — Atkins Cos. has completed the renovation of a 120,000-square-foot medical office building located in the Northern New Jersey community of West Orange. Capital improvements included the modernization of the building’s common areas and restrooms on the second, fourth and fifth floors, as well as the addition of new lighting, flooring, fixtures and decorative elements. Atkins originally developed the building, which is situated adjacent to RWJBarnabas Health’s corporate offices, in 1983.
NORTH ARLINGTON, N.J. — A joint venture between locally based developer Hampshire Cos. and global investment management firm Invesco will develop a 111,660-square-foot industrial project in North Arlington, located just outside Newark. The facility will feature a clear height of 40 feet, 22 dock-high doors, five trailer parking spaces and roughly 4,500 square feet of office space. Michael Klein, John Rose, Jon Mikula and Ryan Carroll of JLL arranged construction financing through BMO Financial Group on behalf of the joint venture. A tentative completion date was not disclosed.
NORTH BRUNSWICK, N.J. — Crumbl Cookies has opened a 1,794-square-foot store at The Shoppes at North Brunswick, located near Rutgers University in New Jersey. Kevin Pelio and James Azarian represented the landlord, Azarian Realty Co., in the lease negotiations on an internal basis. Jerry Johnson of Bennett Williams Commercial represented the tenant.
VINELAND, N.J. — Cronheim Mortgage has arranged a $4.1 million permanent loan for Vineland Apartments, a 104-unit multifamily property in Southern New Jersey. The garden-style property comprises seven two-story buildings that house one- and two-bedroom units ranging in size from 680 to 868 square feet. Andrew Stewart, Dev Morris and Allison Villamagna of Cronheim Mortgage arranged the financing on behalf of the borrower, New Jersey-based investment firm Marshall Weinerman Real Estate. The direct lender was not disclosed.
SOUTH PLAINFIELD, N.J. — Tropical Supermarket will open a 15,800-square-foot grocery store at Clinton Corners, a 30,331-square-foot neighborhood retail center located in the Northern New Jersey community of South Plainfield. The tenant will backfill a space previously occupied by grocer Bravo, maintaining the property’s 100 percent occupancy rate. Vanessa Fernandez-Kelty of Levin Management Corp. represented the undisclosed landlord in the lease negotiations.
JERSEY CITY, N.J. — A partnership between The Birch Group and 2020 Vision has purchased 101 Hudson Street, a 42-story office building in Jersey City. Also known as The Merrill Lynch Building, the waterfront property spans 1.3 million square feet within the city’s Exchange Place district. The seller and sales price were not disclosed. Shawn Rosenthal, Jason Gaccione and Jake Salkovitz of CBRE advised on the new ownership’s assumption of $250 million in existing CMBS debt and secured a $78 million preferred equity investment from New York City-based SKW Funding.
