Thursday, July 10, 2025
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New Jersey

AcquisitionsIndustrialNew JerseyNortheast

Cushman & Wakefield Brokers Sale of 400,000 SF Industrial Facility in Middlesex, New Jersey

by Taylor Williams

MIDDLESEX, N.J. — Cushman & Wakefield has brokered the sale of a 400,000-square-foot industrial facility in Middlesex, about 40 miles southwest of New York City. Built on 30.3 acres in 2021, the property offers a clear height of 36 feet, 38 loading positions, 334 car and 281 van parks and 130-foot truck court depths. Gary Gabriel, Kyle Schmidt, David Bernhaut, Ryan Larkin, Jules Nissim and Kimberly Bach of Cushman & Wakefield represented the seller, Rockefeller Group, in the transaction. A fund sponsored by CBRE Investment Management acquired the asset for an undisclosed price.

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FreezPak-Logistics-Jersey-City
DevelopmentIndustrialNew JerseyNortheast

Duke Realty Breaks Ground on 267,575 SF Cold Storage Project in Woodbridge, New Jersey

by Taylor Williams

WOODBRIDGE, N.J. — Indianapolis-based Duke Realty Corp. (NYSE: DRE) has broken ground on a 267,575-square-foot, build-to-suit cold storage project in the Northern New Jersey community of Woodbridge for FreezPak Logistics. The facility will consist of roughly 209,500 square feet of freezer space, a 45,760-square-foot cool dock and another 12,000 square feet of office space. The construction plan includes a clear height of 67 feet in the freezer and 30 feet in the cool dock area, as well as 34 dock doors, 70 trailer spaces and 167 automobile parking spaces. David Gheriani, William Waxman, Mindy Lissner and Kevin Dudley with CBRE, along with internal representative Ben Rosen, represented Duke Realty in the lease negotiations with FreezPak.

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650-Randolph-Somerset-New-Jersey
AcquisitionsIndustrialNew JerseyNortheast

EverWest Acquires Industrial Property in Somerset, New Jersey for $27.7M

by Taylor Williams

SOMERSET, N.J. — Denver-based EverWest Real Estate Investors has acquired a 125,790-square-foot industrial property in the Northern New Jersey community of Somerset for $27.7 million. Joel Lubin, John Buckley and Gary Politi of JLL, along with internal agent Stephen Feinberg, negotiated the deal on behalf of EverWest. The seller was Citgen Realty LLC. The Class A property was fully leased to drug developer Rising Pharma Holdings Inc. at the time of sale.

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AcquisitionsHealthcareNew JerseyNortheast

Colliers Negotiates Sale of 30,000 SF Medical Office Building in Edison, New Jersey

by Taylor Williams

EDISON, N.J. — Colliers International has negotiated the sale of a 30,000-square-foot medical office building in Edison, located roughly midway between Newark and Trenton. At the time of sale, the property was 83 percent leased to five tenants. Kim Kretowicz of Colliers represented the undisclosed seller and procured the buyer, private equity real estate firm Thomas Park, in the transaction.

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DevelopmentMultifamilyNew JerseyNortheast

Arden Group, Spitzer to Build $150M Multifamily Project in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — A partnership between investment management firm Arden Group and developer Spitzer Enterprises will build a $150 million multifamily project within one of Jersey City’s opportunity zones. The 26-story, 390-unit building will be located adjacent to the Journal Square PATH station and will include ground-floor retail space and onsite parking. Dustin Stolly, Jordan Roeschlaub, Chris Kramer and Nick Scribani arranged the equity partnership between the two firms. Completion of the project is scheduled for 2024.

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2301-Cottontail-Lane-Somerset-New-Jersey
AcquisitionsIndustrialNew JerseyNortheast

CBRE Brokers Sale of 143,670 SF Industrial Building in Somerset, New Jersey

by Taylor Williams

SOMERSET, N.J. — CBRE has brokered the sale of a 143,670-square-foot industrial building in the Northern New Jersey community of Somerset. The property was built on nine acres in 1986 and features a clear height of 26 feet and 13 loading docks. Mark Silverman, Elli Klapper, Charles Berger, Jeremy Wernick and Kevin Dudley of CBRE represented the buyer, GLP Capital Partners, in the off-market transaction. The seller and sales price were not disclosed.

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AcquisitionsMultifamilyNew JerseyNortheast

Kislak Arranges $16M Sale of Orchard Court Apartments in Pennsville, New Jersey

by Taylor Williams

PENNSVILLE, N.J. — New Jersey-based brokerage firm The Kislak Co. Inc. has arranged the $16 million sale of Orchard Court Apartments, a 156-unit community located in Pennsville, located in the southern part of the Garden State. The property was built on 14.2 acres in 1963 and consists of four studios, 96 one-bedroom units and 56 two-bedroom units. Jason Pucci and Justin Lupo of Kislak represented the seller, an affiliate of New Jersey-based investment firm Kamson Corp., in the off-market deal. Barry Waisbrod, also of Kislak, procured the buyer, an entity doing business as Orchard Court Apartments LLC.

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34-Bank-Netcong-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

CrownPoint Group Completes Lease-Up of 126-Unit Apartment Complex in Netcong, New Jersey

by Taylor Williams

NETCONG, N.J. — Developer CrownPoint Group LLC has completed the lease-up of 34 Bank, a 126-unit apartment complex located in the Northern New Jersey community of Netcong. Leasing of the property, which sits on 4.8 acres, began in December 2020, and construction of the community was completed this summer. Units feature one- and two-bedroom floor plans and are furnished with stainless steel appliances, tile backsplashes and quartz countertops. Amenities include a fitness center, coworking space, walking trails and grilling stations.

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AcquisitionsNew JerseyNortheastRetail

Marcus & Millichap Brokers Sale of 33,719 SF Retail Property in Matawan, New Jersey

by Taylor Williams

MATAWAN, N.J. — Marcus & Millichap has brokered the sale of The Shoppes at Matawan, a 33,719-square-foot retail property in Northern New Jersey community. The asset sold for roughly $6.8 million. Alan Cafiero, Brent Hyldahl and Ben Sgambati of Marcus & Millichap represented the seller, an unnamed limited liability company, in the transaction. The buyer was also not disclosed.

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Berkshire-Stewards-Crossing-Lawrence-New-Jersey
AcquisitionsMultifamilyNew JerseyNortheast

JLL Negotiates Sale of 240-Unit Berkshire Stewards Crossing Apartments Near Trenton

by Taylor Williams

LAWRENCE TOWNSHIP, N.J. — JLL has negotiated the sale of Berkshire Stewards Crossing, a 240-unit apartment community in Lawrence Township, a northern suburb of Trenton. Michael Oliver, Jose Cruz, Steve Simonelli, Kevin O’Hearn and Grace Braverman of JLL represented the seller, Berkshire Residential Investments, in the transaction. The buyer and sales price were not disclosed. Roughly 9 percent (36) of the property’s one-, two- and three-bedroom units are reserved as affordable housing. Amenities include a pool, fitness center, volleyball court, grill area with a fire pit and outdoor lounge, a dog run and walking paths.

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