BURLINGTON, N.J. — NAI Mertz has negotiated a 100,170-square-foot industrial lease at 320 Dulty’s Lane in Burlington, located northeast of Philadelphia. The property is situated on 13 acres, spans 280,290 square feet and features 36-foot clear heights. Scott Mertz of NAI Mertz represented the landlord, Denver-based Black Creek Group, in the lease negotiations. The tenant is EBP Supply Solutions, a wholesale distributor of products to the cleaning and foodservice industries.
SAYREVILLE, N.J. — New York City-based investment firm AMS Acquisitions has sold Gillette Towers, a two-building, 136-unit seniors housing facility in the Northern New Jersey community of Sayreville. In 2019, AMS purchased the property, which then consisted of a single 80-unit building, for $13 million. The company then developed a 56-unit building that is nearing completion, while the original building is now fully leased. The buyer was a partnership between A&RW Properties LLC and its affiliates JYW Holdings LLC and Nadlan Capital Inc.
FORT LEE, N.J. — Locally based developer Weiss Realty Co. is planning a 31-unit apartment project at 2130 Center Ave. in Fort Lee, located across the Hudson River from Upper Manhattan. Designed by architecture firm Bilow Garret Group, the 36,800-square-foot project will include parking for 51 vehicles and amenities such as a rooftop terrace, fitness center and coworking spaces. The site is located immediately adjacent to the I-95 thoroughfare leading up to the George Washington Bridge. Approval from the Fort Lee Planning Board is still pending. Weiss and his development firm have been honored by the Greater Fort Lee Chamber of Commerce in the past for their contributions to the evolving city.
BERGENFIELD, N.J. — A partnership between Diversified Properties and The Hampshire Cos. has acquired a 40,000-square-foot industrial property at 72 N. Washington Ave. in Bergenfield, located northwest of Manhattan. The two-story building was fully leased at the time of sale. Greg Sabato and Tom Consiglio of Resource Realty of Northern New Jersey represented the seller in the off-market transaction. Sabato and Consiglio also represented the partnership in its negotiations of a long-term lease modification and extension with the building’s only tenant, Cooper Electric, which occurred prior to acquisition.
ROSELLE PARK, N.J. — Greystone has arranged a $65 million construction loan for a 325-unit multifamily project at 10 Westfield Ave. W. in the Northern New Jersey community of Roselle Park. The project will include the development of 16,000 square feet of retail space and a 518-space parking garage and an amenity package that consists of a courtyard, lounge, fitness center and meeting rooms. ACORE Capital provided the loan to Capodagli Property Co. Drew Fletcher, Miryam Kops and Bryan Grover of Greystone placed the debt. Completion is slated for 2023.
FAIRFIELD, N.J. — Ingram Micro, a California-based provider of IT products and services, has signed a 107,107-square-foot industrial lease at 116 Lehigh Drive in the Northern New Jersey community of Fairfield. Venture One Real Estate owns the single-tenant building, which was constructed on 8.2 acres in 1986. Thomas Mallaney, Nicholas Nitti, Denise Kokulak and David Remington of CBRE represented the tenant, which plans to take occupancy of the space in September, in its site selection and lease negotiations.
SEWELL, N.J. — Avison Young has negotiated the $3.7 million sale of Offices at Harbor Pavilions, a 15,000-square-foot medical office building in Sewell, located outside of Philadelphia in the southern part of the state. The property was built in 2007 and is leased to Rowan University School of Osteopathic Medicine and Reconstructive Orthopedics. Scott Martin of Avison Young represented the seller, a local investor, and the buyer, a local doctor, in the transaction.
PENNSAUKEN, N.J. — NAI Mertz has negotiated the sale of a 116,284-square-foot industrial building located at 1700 Suckle Highway in Pennsauken, located outside of Philadelphia in the southern part of the state. The newly renovated building is situated on a 7.7-acre lot. Scott Mertz of NAI Mertz represented the landlord, The Seyon Group, in the transaction. The buyer, Scrub Daddy, a provider of cleaning tools known for its appearance on the TV show “Shark Tank,” purchased the building for $10.7 million.
MONTVALE, N.J. — Thrive Senior Living will open the welcome center on March 27 at Thrive at Montvale, a seniors housing community in the Northern New Jersey city of Montvale. The three-story building is located near Lake Tappan along the New York State border just north of Manhattan and will feature 203 units of independent living, assisted living and memory care.
PATERSON AND WEST ORANGE, N.J. — R.J. Brunelli & Co. Inc. has negotiated two retail leases for Family Dollar totaling 20,082 square feet in Northern New Jersey. In the first deal, the discount retailer leased a 10,382-square-foot space formerly occupied by Rite Aid in Paterson for a store that is expected to open in the third quarter. In the second transaction, Family Dollar signed a lease for 9,700 square feet at an inline space in West Orange. That store is scheduled to open in October. Danielle Brunelli and Pete Nicholson of R.J. Brunelli represented Family Dollar in both sets of lease negotiations. Patrick Varelas of Remax represented the landlord in the Paterson deal.
