REBusinessOnline

J.G. Petrucci Breaks Ground on 172-Unit Mixed-Income Project in East Orange, New Jersey

EAST ORANGE, N.J. — J.G. Petrucci Co. Inc. has broken ground on The Station at East Orange, a 172-unit mixed-income residential community in Northern New Jersey. Thirty percent of the property’s one-, two- and three-bedroom units will be designated as affordable housing, with an area median income range starting at 30 percent to the upper limit of HUD requirements. Amenities will include a fitness center, business center, open terrace courtyards, an art gallery and 3,477 square feet of …

BHI Provides $31.1M Acquisition Loan for Southern New Jersey Seniors Housing Community

NEW YORK CITY — Commercial lender BHI, a division of Israel’s Bank Hapoalim, has provided a $31.1 million acquisition loan for a seniors housing community in Southern New Jersey. The name and location of the property, which has 110 units and is licensed for 130 beds, were not disclosed. Amenities include five living rooms, a library, game room, tea room, three dining rooms and a beauty salon. The borrower was Lionstone Care. The seller was also not

Cammeby’s International Buys Sunnyfield Garden Apartments in Linden, New Jersey for $20.5M

LINDEN, N.J. — An affiliate of Cammeby’s International has purchased Sunnyfield Garden Apartments, a 120-unit multifamily property in Linden, for $20.5 million. The community, located in Union County, consists of 82 one-bedroom units, 38 two-bedroom units and onsite parking for 100 cars. Jeff Squires of New Jersey-based brokerage firm The Kislak Co. Inc. represented the seller, an entity doing business as S.G.A. LLC that has owned the property since 1950, in the transaction. Squires also …

Colliers Brokers Sale of 22,500 SF Warehouse in Moorestown, New Jersey

MOORESTOWN, N.J. — Colliers International has brokered the sale of a 22,500-square-foot warehouse located at 353 Crider Ave. in the Southern New Jersey city of Moorestown. A partnership between Quinlan Development Group and Atrium Real Estate Group purchased the building for an undisclosed price. The seller, Court Street Ventures, acquired the asset a year ago and implemented capital upgrades. Ian Richman of Colliers brokered the

Dermody Properties Breaks Ground on 1.1 MSF Industrial Project in Woolwich Township, New Jersey

WOOLWICH TOWNSHIP, N.J. — Nevada-based developer Dermody Properties has broken ground on a LogistiCenter at Woolwich, an approximately 1.1 million-square-foot industrial project in Southern New Jersey’s Gloucester County. The Class A development will consist of three buildings totaling 262,200, 552,585 and 336,700 square feet. Building features will include clear heights of 36 to 40 feet, 50 to 110 dock-high doors, ESFR sprinkler systems and build-to-suit office space. CBRE is the leasing …

Cushman & Wakefield Brokers $34.5M Sale of Industrial Asset in Elizabeth, New Jersey

ELIZABETH, N.J. — Cushman & Wakefield has brokered the $34.5 million sale of a 240,000-square-foot industrial asset located within a Qualified Opportunity Zone in the Northern New Jersey community of Elizabeth. Building features include 58 loading positions, 185-foot truck court depths and an adjacent lot for tractors/employee parking. Gary Gabriel, Kyle Schmidt, Ryan Larkin, Eli Millstein, Chuck Fern and Gary Casaletto represented the undisclosed seller in the transaction. The buyer was …

Berkadia Provides $26M Loan for Refinancing of Affordable Seniors Housing Property in Union City, New Jersey

UNION CITY, N.J. — Berkadia has provided a $26 million permanent loan for the refinancing of an affordable seniors housing property in the Northern New Jersey community of Union City. Bella Vista Senior Apartments consists of 231 Section 8 housing units in a 24-story building. Laura Smith of Berkadia originated the 35-year loan through HUD’s 223(f) program on behalf of the borrower, Orlando Partners

Newmark Arranges $19M Sale of Two Office Buildings in Warren, New Jersey

WARREN, N.J. — Newmark has arranged the $19 million sale of two office buildings totaling 140,000 square feet in Warren, located about 30 miles outside New York City. At the time of sale, the properties were 81 percent leased to R&D, technology, product development, distribution, assembly and office users. Kevin Welsh, Brian Schulz, Jason Emrani, Steven Schultz and Dan Reider of Newmark represented the seller, a joint venture between Ivy Realty and Waterfall Asset Management, in the …

Duke Realty Completes 622,230 SF Industrial Project for Bob’s Discount Furniture in Piscataway, New Jersey

PISCATAWAY, N.J. — Indianapolis-based Duke Realty has completed a 622,230-square-foot, build-to-suit industrial project for Bob’s Discount Furniture in the Northern New Jersey community of Piscataway. Building features include 40-foot clear heights, 125 dock doors, 302 automobile parking spaces and 127 trailer parking spaces. The Connecticut-based national discount retailer, which operates 150 stores across 23 states, expects to bring hundreds of new jobs to the area in the coming years as …

Partnership Begins Leasing 150-Unit Apartment Complex in Old Bridge, New Jersey

OLD BRIDGE, N.J. — A partnership between developers BNE Real Estate Group, LPZ and Sterling Properties has begun leasing 99 Bridge, a 150-unit apartment complex in Old Bridge, about 35 miles south of New York City. The property features one- and two-bedroom units with quartz countertops, stainless steel appliances, espresso cabinetry and individual washers and dryers. Amenities include a pool, fitness center, coworking lounge, outdoor grilling areas, game room, dog park, package lockers and a …

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