CLIFTON, N.J. — New Jersey-based development and investment firm Tulfra Real Estate has sold a 925-unit self-storage facility located at 10 Kingsland Road in Clifton, about 20 miles west of New York City, for $24.2 million. Tulfra acquired the site, which spans 6.5 acres, from an out-of-state corporation in 2017. The buyer, Columbia Storage Group, also recently acquired a 108,000-square-foot self-storage facility in West Caldwell, New Jersey, from Tulfra.
BAYONNE, N.J. — Hudson Regional Hospital (HRH) has purchased Bayonne Medical Center, a healthcare property located across the Hudson River from Brooklyn, for $76 million. HRH has purchased the operations of the property, which features 278 beds, from its current operator CarePoint Health. Additional terms of sale were not disclosed.
JERSEY CITY, N.J. — JLL has provided a $20.5 million Freddie Mac loan for the refinancing of Garabrant, a multifamily asset located in the Bergen-Lafayette neighborhood of Jersey City. Built in 2019, the six-story, 80-unit property features studio, one- and two-bedroom units with stainless steel appliances, quartz countertops, hardwood floors and island kitchens. Amenities include a fitness center, rooftop terrace, outdoor grilling areas, a sauna and bike storage space. Matthew Pizzolato of JLL originated the 10-year, fixed-rate loan on behalf of the borrower, Point Capital Development LLC.
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.
