RIVERDALE AND MANASQUAN, N.J. — R.J. Brunelli & Co. LLC has negotiated two retail leases for Dollar Tree in New Jersey. In the first deal, the discount retailer leased 9,200 square feet at Riverdale Crossing, a Walmart-anchored power center in Morris County. Dollar Tree will backfill a space formerly occupied by Pier 1 Imports. In the second transaction, Dollar Tree committed to a 9,460-square-foot endcap space at The Orchards at Wall, a 22,504-square-foot center in Manasquan that was also formerly occupied by Pier 1. Both stores are slated to open in the second quarter. Danielle Brunelli and Pete Nicholson of R.J. Brunelli represented Dollar Tree in both sets of lease negotiations. Ryan Starkman of Pierson Real Estate represented the landlord in the Riverdale Crossing deal.
WHITEHOUSE STATION, N.J. — Locally based brokerage firm Kislak Commercial Real Estate Services Inc. has arranged the $3.9 million sale of a 44,300-square-foot industrial property in the Northern New Jersey community of Whitehouse Station. Peter Wisniewski of Kislak represented the seller, Palumbo Realty LLC, in the transaction. Wisniewski also procured the buyer, 27 Ridge Road LLC
WEST WINDSOR, N.J. — New Jersey-based developer Woodmont Properties has begun leasing Woodmont Way, a 443-unit multifamily community in West Windsor, located just outside of Trenton. The property offers one, two- and three-bedroom units that are all equipped with private balconies or patios. Amenities include a fitness and yoga studio, game room, golf simulator, theater room and a heated pool, as well as pickleball and bocce courts. The pet-friendly community also features a bark park and an indoor pet spa. The first move-ins are scheduled to begin this summer.
PISCATAWAY, N.J. — Insite Property Group has acquired Statewide Self Storage, a facility located in the Northern New Jersey city of Piscataway. The property is situated on three acres and features 66,000 net rentable square feet of drive-up and interior space across more than 600 units. Insite plans to implement a renovation that will deliver new signage, a revamped facade, improved lighting and fresh landscaping and paint jobs. The new ownership will also operate the property and rebrand it as SecureSpace Stelton. The seller was not disclosed.
RIDGEWOOD, N.J. — The Stro Cos., a New Jersey-based investment firm, has received a $27.8 million loan for the refinancing of a portfolio of five industrial properties spanning 340,000 square feet in the northern part of the state. All of the properties feature drive-in doors, high ceilings and adequate truck circulation. Kearny Bank provided the loan, specific terms of which were not disclosed.
PARSIPPANY, N.J. — Onyx Equities has begun the renovation of 4 and 6 Campus Drive, a two-building, 300,000-square-foot office complex located in the Northern New Jersey city of Parsippany. Onyx will upgrade the lobbies and exteriors and expand amenity spaces. Renovations will also include a new conference center and cafeteria, as well as upgraded outdoor space. Cushman & Wakefield leases the complex. Onyx Equities acquired 4 & 6 Campus Drive in 2020. The buildings are located in The Arbors @ Parsippany office park. Tenants can utilize the amenities located throughout the campus, including new fitness centers, a golf simulator, game room, conference centers, training rooms and a cafeteria.
HACKENSACK, N.J. — Heritage Capital Management has completed 210 Main, an 89-unit multifamily project located just outside New York City in Hackensack. The 11-story former bank building, which was originally constructed in the 1910s, houses studio, one- and two-bedroom units and 5,500 square feet of ground-floor retail space. Units feature stainless steel appliances, walk-in closets, workspaces and terraces. Amenities include a media room and game lounge and onsite storage units. Rents start at approximately $1,850 per month for a studio unit.
JERSEY CITY, N.J. — CBRE has negotiated the $25.5 million sale of a multifamily development site consisting of three parcels totaling 7.2 acres in Jersey City. Charles Berger, Elli Klapper, Mark Silverman, Thomas Mallaney, Bill Waxman and Kevin Dudley of CBRE represented the seller, Alpha Assembly Solutions Inc., in the transaction. The buyer was Route 440 Owner LLC. Specific plans for the new development were not disclosed.
HACKENSACK, N.J. — JLL has arranged a $60 million loan for the refinancing of Excelsior II, a 267-unit apartment building located just outside of New York City in Hackensack. According to Apartments.com, the property was built in 1999, features one-, two- and three-bedroom units and offers amenities such as a pool, spa and a fitness center. Greg Nalbandian and Michael Lachs of JLL arranged the 30-year, fixed-rate loan through John Hancock Investment Management on behalf of the borrower, Tidewater Real Estate Co.
MOUNT LAUREL, N.J. — NAI Mertz has brokered the sale of a 61,000-square-foot industrial building in Mount Laurel, located outside Philadelphia in Bergen County. The property is located just off I-295 near the New Jersey Turnpike and Routes 70 and 73. Jonathan Klear, Fred Meyer, Roy Kardon, Jeff Licht and Jared Licht of NAI Mertz represented the buyer, industrial investment firm Faropoint, in the transaction. The seller was not disclosed.