Tuesday, July 8, 2025
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Carlton-Village-Apartments-Hamburg
LoansMultifamilyNew JerseyNortheast

Progress Capital Places $31M Loan for Refinancing of Northern New Jersey Apartments

by Taylor Williams

HAMBURG, N.J. — Progress Capital has placed a $31 million loan for the refinancing of Carlton Village Apartments, a 240-unit multifamily complex located in the Northern New Jersey community of Hamburg. The property consists of 21 buildings that are situated on a 37-acre site and that house studio, one- and two-bedroom units. Brad Domenico and Gabby Cali of Progress Capital arranged the debt on behalf of the undisclosed borrower, a private investor who has owned the property since 1985 and made various capital improvements since that time.

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AcquisitionsMultifamilyNew JerseyNortheast

Marcus & Millichap Brokers Sale of Multifamily Development Site in Howell, New Jersey

by Taylor Williams

HOWELL, N.J. — Marcus & Millichap has brokered the sale a multifamily development site in Howell, located in Monmouth County, that can accommodate the construction of 360 multifamily units. Chez Eider and Jason Petrick of Marcus & Millichap’s represented the undisclosed seller in the transaction and procured a private developer as the buyer. Both parties requested anonymity.

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AcquisitionsIndustrialNew JerseyNortheast

Cushman & Wakefield Brokers Sale of Two New Jersey Industrial Buildings Totaling 204,000 SF

by Taylor Williams

BRIDGEWATER, N.J. — Cushman & Wakefield has brokered the sale of two industrial buildings totaling 204,000 square feet that are located in the Northern New Jersey community of Bridgewater. Both buildings feature cross-dock configurations and clear heights of 23 feet and were fully leased at the time of sale. A Cushman & Wakefield team of Gary Gabriel, David Bernhaut, Kyle Schmidt and Seth Zuidema represented the seller, Camber Real Estate Partners, and procured the buyer, High Street Logistics Properties, in the transaction. The sales price was not disclosed.

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6901-N.-Crescent-Blvd.-Pennsauken-New-Jersey
IndustrialLeasing ActivityNew JerseyNortheast

Colliers Negotiates 63,347 SF Industrial Lease in Pennsauken, New Jersey

by Taylor Williams

PENNSAUKEN, N.J. — Colliers International has negotiated a 63,347-square-foot industrial lease at 6901 N. Crescent Blvd. in Pennsauken, located in Southern New Jersey. Ian Richman and Marc Isdaner of Colliers represented the landlord, Velocity Venture Partners, in the transaction. Scott Mertz of NAI Mertz represented the tenant, TopPop, a provider of packaging for frozen alcoholic beverages. TopPop expects its new facility to be operational by January.

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LoansNew JerseyNortheastRetail

Cronheim Mortgage Arranges $9.6M Acquisition Loan for Southern New Jersey Shopping Center

by Taylor Williams

VINELAND, N.J. — Cronheim Mortgage has arranged a $9.6 million acquisition loan for Maintree Shopping Center, a 140,000-square-foot grocery-anchored retail property located in the Southern New Jersey city of Vineland. Andrew Stewart and David Poncia of Cronheim Mortgage arranged the fixed-rate loan, which carried a five-year term and a 25-year amortization schedule, on behalf of the borrower, Aspen Real Estate. The property was 80 percent leased at the time of the loan closing. The direct lender was an undisclosed, Philadelphia-based credit union.

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Somerset-Industrial-Redevelopment
AcquisitionsDevelopmentIndustrialNew JerseyNortheastOffice

EverWest, Woodmont Buy New Jersey Office Building, Plan Industrial Redevelopment

by Taylor Williams

SOMERSET, N.J. — EverWest Real Estate Investors and Woodmont Properties have acquired an office building and adjacent development site in the Northern New Jersey community of Somerset with plans to redevelop the building and site into a 426,000-square-foot industrial complex. The partnership acquired the 351,782-square-foot building and seven-acre land parcel for $42.7 million. The new industrial complex will consist of two buildings spanning 294,000 and 132,000 square feet. Completion of the redevelopment is slated for 2023. Elli Klapper, Kevin Dudley and Mark Silverman of CBRE brokered the deal in conjunction with Stephen Feinberg of EverWest and Anthony Amadeo of Woodmont.

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Clarus-Glen-Ridge
DevelopmentMultifamilyNew JerseyNortheast

JMF Properties Begins Leasing 110-Unit Apartment Complex in Glen Ridge, New Jersey

by Taylor Williams

GLEN RIDGE, N.J. — JMF Properties has begun leasing Clarus Glen Ridge, a 110-unit apartment complex in Glen Ridge, located in Northern New Jersey’s Essex County. The property offers one- and two-bedroom units and amenities such as a fitness center, theater room, parlor with a wet bar, business center, dog park and storage lockers. Rents start at roughly $2,600 per month for a one-bedroom unit. Construction began in May 2019.

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AcquisitionsMultifamilyNew JerseyNortheast

Gebroe-Hammer Arranges $21.4M Sale of Jersey City Multifamily Portfolio

by Taylor Williams

JERSEY CITY, N.J. — New Jersey-based brokerage firm Gebroe-Hammer Associates has arranged the $21.4 million sale of a portfolio of five multifamily properties totaling 134 units in Jersey City. Niko Nicolaou of Gebroe-Hammer represented the seller, Coltown Properties, and procured the buyer, West of Hudson Properties, in the transaction. Brad Domenico of Progress Capital arranged an undisclosed amount of acquisition financing on behalf of the new ownership.

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AcquisitionsIndustrialNew JerseyNortheast

Sitex Group Acquires 30,000 SF Warehouse in Fairfield, New Jersey

by Taylor Williams

FAIRFIELD, N.J. — Private equity real estate firm Sitex Group has acquired a 30,000-square-foot warehouse located in the Northern New Jersey community of Fairfield. The seller was an undisclosed private investor. David Zimmel of Zimmel Associates brokered the deal and has been retained as the leasing agent. Sitex Group plans to implement a value-add program and make the property available for occupancy in summer 2022.

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IndustrialLoansNew JerseyNortheast

JLL Arranges $14.3M in Financing for New Jersey Industrial Portfolio

by Taylor Williams

EDISON, N.J. — JLL has arranged $14.3 million in financing for a portfolio of industrial buildings totaling approximately 430,000 square feet within Raritan Center Business Park in the Northern New Jersey community of Edison. The buildings were constructed between 1980 and 1991 and were 99 percent leased to a roster of 20 tenants at the time of sale. Michael Klein and Max Custer of JLL arranged three fixed-rate loans through an undisclosed life insurance company to retire existing debt on the properties and fund tenant improvements. The borrower was Summit Associates Inc.

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