ROCKAWAY, N.J. — Casio America has signed a 21,338-square-foot office lease in the Northern New Jersey community of Rockaway. The U.S. subsidiary of the Japanese electronics manufacturer is taking space on the third floor of The Mark, a seven-story, 237,087-square-foot building that was recently renovated. Chris Conklin, Dan Spero and Maria Rubert of JLL represented the landlord, Northbridge Capital, in the lease negotiations. Naoki Yamaguchi of Relo Redac Inc. represented the tenant.
SWEDESBORO, N.J. — Locally based investment firm Alterra IOS (industrial outdoor storage) has purchased a 4.9-acre facility located outside of Philadelphia in Swedesboro. The site at 223 Paulsboro Road is located 20 miles from Philadelphia International Airport and 30 miles from the Port of Philadelphia and was fully leased at the time of sale to equipment rental company Sunbelt Rentals. Scott Mertz of NAI Mertz brokered the deal. The seller was not disclosed.
NORTH BRUNSWICK, N.J. — Regional investment firm Taconic Partners has acquired a 360,000-square-foot industrial property in North Brunswick, located roughly midway between Trenton and Newark, for $74.3 million. The site at 1735 Jersey Ave. spans 17 acres, and the building offers a clear height of 24 feet and 24 loading positions. Tenants at the property, which was fully leased at the time of the loan closing, include pallet manufacturer and distributor Kamps Inc. and furniture rental company Luxe Living Design. Jordan Avanzato, Marc Duval, Nicholas Stefans and Jason Lundy of JLL brokered the deal. The seller was not disclosed. Evan Pariser and Aaron Niedermayer, also with JLL, arranged $46.6 million acquisition financing through J.P. Morgan for the deal on behalf of Taconic Partners.
CRANBURY, N.J. — Yahee Technologies Corp., a provider of home furniture, pet supplies and outdoor and garden products, has signed a 154,000-square-foot industrial lease within Prologis Cranbury Business Park in Central New Jersey. The building at 3 Security Drive, which according to LoopNet Inc. totals 201,093 square feet, features a clear height of 32 feet and 21 dock doors. Christopher Galiano of NAI DiLeo-Bram represented the tenant in the lease negotiations. KBC Advisors represented Prologis.
SADDLE RIVER, N.J. — General contractor March Construction has broken ground on a 32,000-square-foot academic project in the Northern New Jersey community of Saddle River. A tentative completion date was not disclosed. Designed by DIGroup Architecture, the Dr. Kristen Walsh Hall of Science & Entrepreneurship is part of Saddle River Day School and will feature 15 classrooms, four small-group instruction rooms, four science labs and flexible spaces. The facility will also house collaboration areas and a new admissions center.
LACEY, N.J. — New Jersey-based developer Walters is nearing completion of Cornerstone at Lacey III, a 70-unit affordable housing project located near the Jersey Shore. The building is part of the larger Cornerstone at Lacey development, which consists of 23 buildings totaling 188 units in one-, two- and three-bedroom floor plans. Residences are reserved for households earning 60 percent or less of the area median income. Amenities include a clubhouse with computer workstations, fitness center, children’s tot lot, barbecue and picnic area and a basketball half court. Residents also have access to a staffed social services coordinator upon request. Walters is currently accepting renter applications for a lottery drawing that will take place on May 7. The first move-ins will begin in June.
SUMMIT, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $22.1 million sale of The Parc at Summit, a 57-unit multifamily property in Northern New Jersey. The five-building complex was constructed on a 3.3-acre site in 1950 and offers one- and two-bedroom apartments, as well as three-bedroom townhomes. Robert Holland and Jeff Squires of Kislak represented the seller, which recently invested $1.5 million in capital improvements to the property, in the transaction. Joni Sweetwood, also with Kislak, procured the buyer. Both parties requested anonymity.
MAPLEWOOD, N.J. — Marcus & Millichap has brokered the $4.3 million sale of two retail buildings in Maplewood, located just outside of Newark. The two adjacent, freestanding buildings are leased to Dollar General and Sherwin-Williams and both recently underwent capital improvements. Alan Cafiero, David Cafiero and Dean Matuszewicz of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
MILLSTONE, N.J. — Pennsylvania-based Logistics Plus Inc. has signed a 1 million-square-foot, full-building industrial lease in Millstone, an eastern suburb of Trenton. The building is part of Millstone 8 Logistics Center, a 140-acre speculative development by Crow Holdings that also includes a 220,000-square-foot building that is fully leased to United Legwear. Logistics Plus’ building features a clear height of 40 feet, 274 trailer parking stalls and 172 loading doors. Rob Kossar, Nate Demetsky and Leslie Lanne of JLL represented the ownership group, which includes The Carlyle Group and 2020 Acquisitions, in the lease negotiations. Andrew Crites, Art Leichner and Kyle Eaton of Newmark represented the tenant.
JERSEY CITY, N.J. — BHI, the U.S. division of Israel’s Bank Hapoalim, has provided a $35 million construction loan for a 202-unit multifamily project in Jersey City. The development at 277-301 West Side Avenue will be a six-story building that will house 42 studios, 119 one-bedroom units, 32 two-bedroom apartments and nine three-bedroom residences. Ten percent of the units will be reserved as affordable housing, and the building will also feature 5,800 square feet of commercial space. Amenities will include a pool, fitness center, sauna, meditation room, rooftop terrace and outdoor grilling and dining stations. The borrower is Tay Investments.