MOUNT HOLLY, N.J. — New Jersey-based financial intermediary G.S. Wilcox & Co. has arranged a $12 million loan for the refinancing of Fair Ground Plaza, a 178,532-square-foot shopping center located outside of Philadelphia in Southern New Jersey. The center was 90 percent leased at the time of the loan closing. Grocer Acme Markets is the anchor, and other tenants include Staples, Dollar Tree and Advance Auto Parts. David Fryer of G.S. Wilcox arranged the loan through an undisclosed life insurance company. The borrower was also not disclosed.
Atkins Cos. Completes Renovation of 70,140 SF Healthcare Building in Washington Township, New Jersey
WASHINGTON TOWNSHIP, N.J. — New Jersey-based Atkins Cos. has completed the renovation of a 70,140-square-foot healthcare building in Washington Township, about 20 miles south of Philadelphia. The project team converted a former fitness club into 33,000 square feet of clinical healthcare space on the ground floor and 7,000 square feet of leasable space on the second floor. All common areas were upgraded with new lighting, ceilings, flooring, paint/wallcovering, furniture and artwork. Atkins also upgraded building signage, entry points and security systems. Construction began earlier this year.
UNION, N.J. — JLL has negotiated the sale of an industrial outdoor storage facility in the Northern New Jersey community of Union. The property at 2461 Iorio St. features a service facility with a clear height of 15 feet, one loading dock, four drive-in bays and 2.5 acres of outdoor storage space. Jason Lundy, Marc Duval, Jordan Avanzato and Nicholas Stefans of JLL represented the undisclosed seller in the transaction and procured the buyer, New York-based investment firm Ridgecut Road.
SOUTH BRUNSWICK, N.J. — Federation Distribution Services Inc. has signed a 104,451-square-foot industrial lease in South Brunswick, located roughly midway between Trenton and Newark. The third-party logistics company will occupy half the space at the newly renovated building at 461 Ridge Road for a term of 65 months. Gary Politi and Michael Viera of JLL represented the landlord, a partnership between New Jersey-based Woodmont Industrial Partners and Denver-based Sagard Real Estate, in the lease negotiations. Monica Franco of Lee & Associates represented the tenant.
CLIFTON, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged a $13 million loan for the refinancing of Clifton Plaza, a 95,222-square-foot shopping center in Northern New Jersey. The center was fully leased at the time of the loan closing. Big Lots is the anchor, and other tenants include Dollar Tree, New Jersey Eyes and Blink Fitness. David Fryer of G.S. Wilcox arranged the loan through an undisclosed life insurance company. The borrower was also not disclosed.
PISCATAWAY, N.J. — Locally based developer M&M Realty Partners has completed a two-building, 359,522-square-foot industrial project in the Northern New Jersey community of Piscataway. Building A totals 184,848 square feet and features a clear height of 40 feet, 3,000 square feet of office space, 28 loading docks, two drive-in doors and parking for 157 cars and 30 trailers. Building B totals 174,674 square feet and offers almost identical design features. Cushman & Wakefield is marketing the property for lease.
FLEMINGTON, N.J. — Target will open a 75,500-square-foot store in the Central New Jersey community of Flemington. The store will be located within a space formerly occupied by Burlington at the 239,000-square-foot Flemington Marketplace shopping center. Vanessa Kelty of Levin Management Corp. represented the landlord, an institutional client of New York Life Real Estate Investors, in the lease negotiations. Jeff Howard of Ripco Real Estate represented Target, which expects to open its Flemington store next fall.
ALPHA, N.J. — A joint venture between national investment and development firm CRG and Los Angeles-based PCCP is underway on construction of The Cubes at Alpha, a 575,900-square-foot industrial park that will be located in Northern New Jersey. The Cubes at Alpha will consist of two single-side-load buildings that will total 270,900 and 305,000 square feet on a 37-acre site. Both buildings will offer clear heights of 36 feet, ESFR sprinkler systems and dedicated space for trailer parking and/or outdoor storage. CRG’s parent company, Clayco, will serve as the design-build firm for the project, while Lamar Johnson Collaborative is the architect. Construction is slated for a third-quarter 2025 completion.
MOORESTOWN, N.J. — Marcus & Millichap has brokered the $5.4 million sale of an 8,420-square-foot educational building in the Southern New Jersey community of Moorestown. Operator Spring Education Group occupies the building via its Chesterbrook Academy daycare and early learning center. Sean Lenchner, Mark Ruble, Chris Lind and Zack House of Marcus & Millichap represented the buyer, a limited liability company, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
PAULSBORO, N.J. — Marcus & Millichap has brokered the $2.5 million sale of a 46,236-square-foot shopping center in Paulsboro, located outside of Philadelphia in Southern New Jersey. Save-A-Lot Food Stores and Dollar Tree are the anchor tenants at the property at 545 Broad St. Alan Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap represented the seller and buyer, both of which were private investors that requested anonymity, in the transaction.