New Jersey

Skyline Development Tops Out 14-Story Multifamily Project in North Bergen, New Jersey

by Taylor Williams August 5, 2020

NORTH BERGEN, N.J. — Skyline Development Group, in partnership with Vasco Ventures and Mosaic Real Estate, has topped out Solaia, its 14-story multifamily project in North Bergen, located just across the Hudson River from Upper Manhattan. The property will offer one-, two- and three-bedroom condominiums ranging in size from 864 to 1,900 square feet. Amenities will include a fitness center, a spa, outdoor grilling areas, coworking spaces and resident lounges. Completion is scheduled for the first quarter of 2021.

August 5, 2020

Gordon-Mansfield-Veterans-Village-New-Jersey

Development Multifamily New Jersey Northeast

WinnDevelopment, Soldier On to Develop $23M Apartment Complex in Tinton Falls, New Jersey

by Taylor Williams August 5, 2020

TINTON FALLS, N.J. — WinnDevelopment and nonprofit partner Soldier On Inc. have received financing for the development of The Gordon H. Mansfield Veterans Village, a $23 million apartment complex in Tinton Falls, located south of New York City across Sandy Hook Bay. The property will feature 70 units that will be reserved exclusively for veterans of the U.S. Armed Forces, including veterans who are transitioning from homelessness. The New Jersey Housing & Mortgage Finance Agency provided the funds for the project. Completion is scheduled for the third quarter of 2021.

August 5, 2020

Acquisitions Industrial New Jersey Northeast Self-Storage

Maya Capital Partners Acquires 505-Unit Self-Storage Facility in Sparta, New Jersey

by Taylor Williams August 5, 2020

SPARTA, N.J. — New York City-based Maya Capital Partners has acquired Sparta Drive-Up Storage, a self-storage facility in Sparta, located in the northern part of the state near the New Jersey-Pennsylvania border. The purchase price was approximately $6.8 million. The 505-unit facility spans 58,000 square feet and offers a combination of indoor, drive-up and climate-controlled units. Evergreen Property Advisors, an affiliate of Maya Capital Partners, will manage the property.

August 5, 2020

Industrial Leasing Activity New Jersey Northeast

Amazon Vendor Signs 67,430 SF Industrial Lease in Parsippany, New Jersey

by Taylor Williams August 4, 2020

PARSIPPANY, N.J. — Linemart NJ, an e-commerce fulfillment vendor for Amazon, has signed a 67,430-square-foot industrial lease at 60 E. Halsey Road in Parsippany, about 30 miles west of New York City. Scott Peck of New Jersey-based brokerage firm Resource Realty represented the tenant in the lease negotiations. Tom Consiglio and Bill Pastuszak, also with Resource Realty, represented the landlord, Longpoint Realty Partners.

August 4, 2020

Industrial-Portfolio-Pennsauken-New-Jersey

Acquisitions Industrial New Jersey Northeast

Colliers Negotiates Sale of Two Industrial Parks Totaling 1.1 MSF in Pennsauken, New Jersey

by Taylor Williams August 3, 2020

PENNSAUKEN, N.J. — Colliers International has negotiated the sale of Twinbridge Industrial Park and Veterans Industrial Park, a pair of industrial developments totaling 32 buildings and approximately 1.1 million square feet in Pennsauken, located east of Philadelphia. The properties are situated immediately off State Highways Route 73 and 130 and were fully leased to 49 tenants at the time of sale. Ian Richman and Marc Isdaner of Colliers represented the seller, The Bloom Organization, in the transaction. The buyer was a joint venture between Wharton Industrial and Walton Street Capital.

August 3, 2020

Industrial Loans New Jersey Northeast

Progress Capital Arranges $18M Acquisition Loan for Future Amazon Facility in Mount Olive, New Jersey

by Taylor Williams August 3, 2020

MOUNT OLIVE, N.J. — Progress Capital has arranged an $18 million acquisition loan for a 132,000-square-foot industrial facility in Mount Olive, about 50 miles west of New York City. The property served as a warehouse for Sam’s Club until 2018 and will now be leased to Amazon as a fulfillment center. Kathy Anderson of Progress Capital arranged the loan through Lakeland Bank on behalf of the buyer, Asset Realty & Construction Group.

August 3, 2020

Leasing Activity New Jersey Northeast Retail

Burlington to Open 47,000 SF Store at Former Sports Authority Space in Secaucus, New Jersey

by Taylor Williams August 3, 2020

SECAUCUS, N.J. — Burlington has open a 47,000-square-foot store at a space formerly occupied by Sports Authority at Mill Creek at Harmon Meadow in Secaucus, located just across the Hudson River from Manhattan. New Jersey-based Levin Management Corp. represented the landlord in the lease negotiations. The representative of the tenant was not disclosed.

August 3, 2020

Industrial Loans New Jersey Northeast

Cushman & Wakefield Places $103.4M in Construction Financing for New Jersey Industrial Project

by Taylor Williams July 31, 2020

LOGAN TOWNSHIP, N.J. — Cushman & Wakefield has arranged a $103.4 million construction loan for two new buildings at Logan North Industrial Park, a 3.2 million-square-foot development in Logan Township, located south of Philadelphia. Building E will span approximately 189,000 square feet and is preleased to cold storage operator Preferred Freezer Services. Building H is preleased to Target and is expected to house operations that will create about 1,300 new jobs. Provident Bank provided $34.4 million in construction financing for Building E, and Wells Fargo provided the $69 million loan for Building H. John Alascio, Sri Vankayala, Chuck Kohaut, T.J. Sullivan and Maya Steinberger of Cushman & Wakefield arranged the funds on behalf of the borrower, a partnership between Advance Realty Investors and Greek Development.

July 31, 2020

Affordable Housing Development Multifamily New Jersey Northeast

Walters Completes 60-Unit Affordable Housing Project in Coastal New Jersey

by Taylor Williams July 31, 2020

MANAHAWKIN, N.J. — New Jersey-based developer Walters Group Apartments has completed the last of five buildings at Grassy Hollow, a 60-unit affordable housing project in the coastal city of Manahawkin. The property features one-, two- and three-bedroom units ranging in size from 729 to 1,289 square feet for renters earning 60 percent or less of the area median income. Amenities include a fitness center, children’s play area, basketball court and a community clubhouse with computer workstations.

July 31, 2020

Self-Storage-Village-Center-at-Rochelle-Park

Development Industrial New Jersey Northeast Self-Storage

Tulfra Begins Construction of 816-Unit Self-Storage Facility in Rochelle Park, New Jersey

by Taylor Williams July 30, 2020

ROCHELLE PARK, N.J. — Locally based development and management firm Tulfra Real Estate has begun construction of an 816-unit self-storage facility within Village Center at Rochelle Park, located northwest of New York City. The facility spans 113,000 gross square feet and is being constructed on a 1.4-acre site that formerly housed an AT&T data center. Mancini Duffy is designing the project, and The Lane Group is the general contractor. Completion is slated for the first quarter of next year.

July 30, 2020

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