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Hamilton-Marketplace_Hamilton-Township-N.J
AcquisitionsNew JerseyNortheastRetail

IPA Arranges $116.5M Sale of Shopping Center in Hamilton, New Jersey

by Taylor Williams

HAMILTON, N.J. ­— Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $116.5 million sale of Hamilton Marketplace, a 485,094-square-foot shopping center located in Central New Jersey. A 65,155-square-foot ShopRite grocery store anchors the property, which was built in phases beginning in the early 2000s. Other tenants at the center include Kohl’s, Ross Dress for Less, Staples, Barnes & Noble, Michaels, Old Navy, Ulta Beauty, Burlington and PetSmart. Paramount Realty acquired the property from SITE Centers. Brad Nathanson and JP Colussi of IPA brokered the deal.

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Highgate-at-Livingston
DevelopmentMultifamilyNew JerseyNortheast

Joint Venture Begins Leasing 169-Unit Multifamily Project in Livingston, New Jersey

by Taylor Williams

LIVINGSTON, N.J. — A joint venture between Continental Properties and Garden Communities has begun leasing Highgate at Livingston, a 169-unit multifamily project in Northern New Jersey. The complex offers one-, two- and three-bedroom units that will be furnished with stainless steel appliances, walk-in closets and individual washers and dryers. Amenities include a pool, fitness center, clubhouse with games, coworking lounge, catering kitchen, outdoor grilling and dining areas and a dog run. Construction began in summer 2023. Rents start at $2,450 per month for a one-bedroom apartment.

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HospitalityLoansNew JerseyNortheast

Cronheim Mortgage Arranges Refinancing of 104-Room Hotel in Lawrenceville, New Jersey

by Taylor Williams

LAWRENCEVILLE, N.J. — New Jersey-based intermediary Cronheim Mortgage has arranged a loan of an undisclosed amount for the refinancing of a 104-room Motel 6 hotel in Lawrenceville, located just outside Trenton. The hotel was originally constructed in 1978 and also houses a PJ’s Pancake House restaurant. Brandon Szwalbenest and Andrew Stewart of Cronheim Mortgage arranged the debt through an undisclosed local bank. The name of the locally based borrower was also not disclosed.

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44-Springside-Poughkeepsie
DevelopmentMultifamilyNew JerseyNortheast

Tinkelman Brothers Completes 28-Unit Multifamily Project in Poughkeepsie, New York

by Taylor Williams

POUGHKEEPSIE, N.Y. — Tinkelman Brothers Development Corp. has completed 44 Springside, a 28-unit multifamily project located north of New York City in Poughkeepsie. Designed by the firm’s in-house architecture team, 44 Springside offers one- and two-bedroom units that feature quartz countertops, laundry/storage rooms and smart lock/entry systems. Amenities include a community room, rooftop terrace and an indoor pool. Rents start at $2,500 per month for a one-bedroom apartment.

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AcquisitionsNew JerseyNortheastOffice

Town of Wallingford Buys 45,320 SF Office Building in Southern Connecticut

by Taylor Williams

WALLINGFORD, CONN. — The Town of Wallingford, located in southern Connecticut, has purchased a 45,320-square-foot office building located at 4 Fairfield Blvd. The sales price was $4.1 million. The municipality plans to use 25,565 square feet of the building to house the offices of its board of education. Frank Hird of locally based brokerage firm O,R&L Commercial represented the seller, an entity doing business as  CT Wallingford Realty Partners, in the transaction.

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AcquisitionsMultifamilyNew JerseyNortheast

Kislak Arranges $3.5M Sale of Apartment Complex in Long Branch, New Jersey

by Taylor Williams

LONG BRANCH, N.J. — Locally based brokerage firm The Kislak Co. Inc. has arranged the $3.5 million sale of Morris Mews Apartments, an 18-unit multifamily complex located in the coastal New Jersey community of Long Branch. The two-story building was constructed in 1966 and houses 16 one-bedroom units and two two-bedroom units that were fully occupied at the time of sale. Daniel Lanni of Kislak represented the seller and procured the buyer, both of which were limited liability companies, in the transaction.

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DevelopmentMultifamilyNew JerseyNortheast

Larken Associates Completes 120-Unit Multifamily Project in Pohatcong, New Jersey

by Taylor Williams

POHATCONG, N.J. — Locally based developer Larken Associates has completed Monte View at Pohatcong, a 120-unit multifamily project located near the Pennsylvania-New Jersey border near Easton. The garden-style property consists of three multi-story buildings and one four-story building with a ground-floor clubhouse. Units come in one- and two-bedroom floor plans. Other amenities include a pool, fitness center and a dog run. Construction began in November 2023. Rents start at roughly $2,000 per month for a one-bedroom apartment.

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Leasing ActivityNew JerseyNortheastOffice

LIPTON Teas & Infusions to Open 15,183 SF Office in Hoboken

by Taylor Williams

HOBOKEN, N.J. — LIPTON Teas & Infusions will open a 15,183-square-foot office at Waterfront Corporate Center in Hoboken. The beverage maker is taking a full floor at Building 2 of the 1.5 million-square-foot development, which is owned by New York City-based SJP Properties. SJP Project Solutions, an affiliate of the owner, recently completed the build-out of the space.

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MultifamilyNew JerseyNortheast

Berkadia Arranges $29M Equity Recapitalization for Northern New Jersey Multifamily Portfolio

by Taylor Williams

BOUND BROOK AND HACKENSACK, N.J. — Berkadia has arranged the $29 million preferred equity recapitalization of a portfolio of multifamily properties totaling 568 units in Northern New Jersey. The number and names of the properties were not disclosed, but they are located in Bound Brook and Hackensack and were built between 2014 and 2019. Noam Franklin, Cody Kirkpatrick, Chinmay Bhatt and Matthew Tu led the transaction for Berkadia. The sponsor and new equity partner were also not disclosed.

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Affordable HousingDevelopmentMultifamilyNew JerseyNortheast

Walters Breaks Ground on 70-Unit Affordable Housing Project in Forked River, New Jersey

by Taylor Williams

FORKED RIVER, N.J. — New Jersey-based developer Walters has broken ground on a 70-unit multifamily project in Forked River, located along the Jersey Shore. The nine-building project represents the third and final phase of Cornerstone at Lacey, the first two phases of which delivered 118 units in one-, two- and three-bedroom formats across 15 buildings. Phase III, which also includes the construction of a new clubhouse, is slated for a late 2025 completion.

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