NORTH BRUNSWICK, N.J. — Kaplan Cos. has opened Amaranth at North Brunswick, a 222-unit active adult community located approximately midway between New York City and Philadelphia. Apartments range in size from 823 to 1,397 square feet. Amenities include a resident lounge, demonstration kitchen, card room, doggie day spa, yoga studio with interactive mirrors and a package room. Kaplan is also underway on its second Amaranth development in nearby East Windsor. Information on starting rents was not disclosed.
DEPTFORD, N.J. — SRS Real Estate Partners has negotiated the $17 million sale of a 60,750-square-foot retail property in the Southern New Jersey community of Deptford that is fully leased to Best Buy on a triple-net basis. The electronics retailer has occupied the six-acre site for more than 25 years. Andrew Fallon and Rick Fernandez of SRS represented the seller, a Chicago-based private investment firm, in the transaction. The buyer was Michigan-based REIT Agree Realty Corp. (NYSE: ADC).
PRINCETON, N.J. — Cushman & Wakefield has brokered the sale of a 78,922-square-foot life sciences facility located at 350 Carter Road in Princeton. The facility sits on 19 acres and houses a mix of chemistry and biology labs and other spaces designed to meet the needs of modern life sciences users. Gary Gabriel, David Bernhaut, Frank DiTommaso, Brett Grifo, Keith Braccia, Eric Johnstone, Shawn Straka and Todd Elfand of Cushman & Wakefield represented the seller, an affiliate of metro Philadelphia-based Equus Capital Partners, in the transaction.
HACKENSACK, N.J. — The Kislak Co. Inc. has negotiated the $38.5 million sale of 22 Sussex, an 88-unit apartment building in the Northern New Jersey community of Hackensack. The property consists of 22 studios, 51 one-bedroom units and 15 two-bedroom units. Residences average 883 square feet and feature stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a fitness center, coworking lounge, rooftop deck and a gaming area. Andrew Scheinerman of Kislak represented the seller and developer, an entity doing business as 22 Sussex Street Urban Renewal LLC, in the transaction. Scheinerman also procured the buyer, Lusia Realty Corp.
OLD BRIDGE, N.J. — Locally based brokerage firm Sheldon Gross Realty has arranged the sale of a warehouse located at 3220 Bordentown Ave. in the Northern New Jersey community of Old Bridge. According to LoopNet Inc., the property was built in 1980. The 9.9-acre site includes six acres of outdoor storage space, and the building houses 42,000 square feet of office space and clear heights of 14 to 16 feet. The seller was not disclosed. Brentwood Realty purchased the building for an undisclosed price. Jonathan Glick of Sheldon Gross Realty brokered the deal.
BOGOTA, N.J. — JLL has arranged an undisclosed amount of predevelopment and construction financing for a 150,917-square-foot speculative warehouse that will be located in the Northern New Jersey community of Bogota. The site spans 10.8 acres at 14-22 River Road. Building features will include a clear height of 40 feet, 28 dock doors, three drive-in doors, an ESFR sprinkler system, 15 trailer parking stalls and 225 automobile parking spaces. David Sitt, Peter Rotchford, Matthew Pizzolato and Michael Lachs of JLL arranged the loan through Centennial Bank on behalf of the borrower, Thor Equities Group.
ISELIN, N.J. — Invitae, a provider of genetic testing services, has signed a 28,000-square-foot office lease renewal and expansion at Woodbridge Corporate Plaza in the Northern New Jersey community of Iselin. The lease term is 10 years. The 630,000-square-foot campus features a fitness center, conference and training facilities, a cafeteria with outdoor seating and an onsite dry cleaner. Charlie Hatfield led a Colliers team that represented the tenant, which is expanding its footprint by 13,500 square feet, in the lease negotiations. The name and representative of the landlord were not disclosed.
MORRISTOWN, N.J. — The Silverman Group has completed the renovation of Morristown Plaza, a two-building, 122,000-square-foot office complex in Northern New Jersey. The value-add program delivered upgrades to the various common areas and amenity spaces, which now include a grab-and-go café, fitness center, conferencing facility, onsite bank branch and outdoor seating areas. The Silverman Group has retained Lee & Associates to lease the property.
NEWARK, N.J. — A partnership between three New Jersey-based investment firms, The STRO Cos., KRE Group and Fidelco Realty Group, has acquired a 77,000-square-foot warehouse in Newark. The facility at 798 Frelinghuysen Ave. sits on a 4.7-acre site near the Port of Newark. According to LoopNet Inc., the property was originally built in 1929 and renovated in 1994 and features a clear height of 16 feet. The seller and sales price were not disclosed.
JERSEY CITY, N.J. — Veris Residential has begun leasing Haus25, a 56-story apartment tower in Jersey City. Designed by Elkus Manfredi Architects with interiors by Fogarty Finger and landscape architecture by Melillo Bauer Carman, Haus25 rises 600 feet and comprises 750 units, 20 percent of which have been preleased. Residences come in studio, one-, two- and three-bedroom formats and are furnished with stainless steel appliances, quartz countertops, individual washers and dryers and ecobee smart thermostats. Amenities include a pool, indoor and outdoor fitness areas, chef’s kitchen, grilling stations, an amphitheater, bowling alley, karaoke lounge, game room, golf simulator, children’s playroom, pet spa and a dog run. Rents start in the low $3,000s per month for a studio apartment.