PARSIPPANY, N.J. — Commercial Furniture Transport has signed a 119,366-square-foot industrial lease at 75 Lackawanna Place in Parsippany, about 30 miles west of New York City. The site is located in between Interstate 80 and State Route 46. Scott Perkins of NAI James Hanson represented the landlord, Bee DIC Realty, in the lease negotiations. Howard Weinberg of JLL represented the tenant.
VINELAND, N.J. — Boston-based investment firm High Street Logistics Properties has acquired a 432,000-square-foot industrial facility located within the 2.7 million-square-foot Vineland Industrial Park, about 40 miles south of Philadelphia. The sales price was $23.2 million. Built in 1989 and expanded in 1997, the cross-dock property is fully leased to Ardagh Glass Inc., a provider of sustainable packing solutions. Building features include 28- to 34-foot clear heights, 24 dock doors, 18 trailer parking spaces, 54 automobile parking spaces and 110- to 120-foot truck court depths. Michael Hines, Brad Ruppel, Brian Fiumara and Lauren Dawicki of CBRE represented the seller, Vineland Construction, in the transaction. CBRE local market advisors Ken Zirk, Robert Zwengler, Dan McGovern, Paul Touhey and Andrew Green also assisted on the sale.
JERSEY CITY, N.J. — Gebroe-Hammer Associates has arranged the $9.7 million sale of a 57-unit multifamily portfolio in Jersey City. The sales price equates to roughly $171,000 per unit. The portfolio consists of two buildings that were both constructed around the turn of the 20th century. Niko Nicolaou of Gebroe-Hammer represented the seller, Kevelson Family LLC, in the transaction. Brad Domenico of Progress Capital provided acquisition financing on behalf of the undisclosed buyer.
FAIRFIELD, N.J. — Chicago-based development and investment firm Venture One Real Estate has purchased a 107,107-square-foot industrial building located at 116 Lehigh Drive in Fairfield, about 30 miles west of New York City. The single-tenant building was constructed on 8.1 acres in 1986 and features nine exterior docks, 187 automobile parking spaces and an ESFR sprinkler system. Noah Balnoff, Jacquelyn Severino and Chris Haenn of Colliers International represented the undisclosed seller in the transaction. Venture One will implement a value-add program at the property, which was vacant at the time of sale.
SECAUCUS, N.J. — Burlington will open a store at Mill Creek at Harmon Meadow, a 306,000-square-foot retail power center in the New York City suburb of Secaucus. The center, which houses tenants such as Kohl’s, T.J. Maxx and Bob’s Discount Furniture, is part of the 200-acre Harmon Meadow mixed-use development. Burlington will occupy a space formerly leased to Sports Authority and has not yet established an opening date. Sidney Singer of Levin Management Corp. represented the landlord, New York Life Real Estate Investors, in the lease negotiations.
MEDFORD, N.J. — NAI Mertz has brokered the sale of a 63,000-square-foot industrial complex located east of Philadelphia in New Jersey. The property was originally built in the 1970s and consists of five buildings on a 9.7-acre tract. Jonathan Klear of NAI Mertz represented the seller, Medford Industrial Park, which will lease back a portion of the space. An affiliate of Philadelphia-based investment firm Velocity Venture Partners purchased the property, which was fully leased at the time of sale, for an undisclosed price.
PITTSBURGH — Dick’s Sporting Goods will open three new stores in the Northeast region this month. The Pittsburgh-based retailer will debut two new stores in Massachusetts, a 45,000-square-foot location at Cape Cod Mall in Hyannis and a 48,000-square-foot location at Westgate Mall in the Boston suburb of Brockton. Simon Property Group and New England Development are the respective owners of those malls. A third, 65,000-square-foot store will open at Macerich’s Deptford Mall, located just outside Philadelphia in New Jersey.
RIDGEFIELD PARK, CLIFFSIDE PARK AND LEONIA, N.J. — Kislak Co. has negotiated the $19.2 million sale of an 85-unit multifamily portfolio in Bergen County, located just west of New York City. The portfolio includes The Madison, a 36-unit property in Ridgefield Park; The Manor, a 34-unit complex in Cliffside Park; and a 15-unit building in Leonia. Novel Property Ventures sold the portfolio, which was fully occupied at the time of sale, to Titanium Capital Partners. Robert Squires and Don Baxter of Kislak brokered the deal.
NORTH BRUNSWICK, N.J. — German discount grocer Lidl has opened a 28,000-square-foot store at Brunswick Shopping Center, a 288,000-square-foot retail center located in North-Central New Jersey. Other tenants at the property include LA Fitness, Muscle Maker Grill, GNC, Dollar Tree, Sally Beauty, McDonald’s, Sherwin Williams and Community Dental. New Jersey-based Levin Management Corp. represented the landlord in the lease negotiations. The representative of the tenant was not disclosed. Lidl now operates 10 stores in New Jersey.
FLORHAM PARK, N.J. — CBRE has negotiated two office leases totaling 6,200 square feet at 23 Vreeland Road in Florham Park, about 30 miles west of New York City. International export company Hockman-Lewis inked a 4,600-square-foot lease, while law firm Bakos & Kritzer committed to a 1,600-square-foot space. Jonathan Meisel, Dan Casey and Erin Wenzler of CBRE represented the landlord, Eastman Cos., in the lease negotiations. Dylan Tusinac and David DeMatteis of Cushman & Wakefield represented Hockman-Lewis, while Bakos & Kritzer was self-represented.