BORDENTOWN, N.J. — Marcus & Millichap has arranged the $1.6 million sale of a net-leased retail property occupied by Investors Bank in Bordentown, approximately 30 miles northeast of Philadelphia. The 2,760-square-foot property is located at 213 US-130. Michael Lombardi of Marcus & Millichap’s New Jersey office represented the seller, a private investor, in the transaction. The buyer was undisclosed.
SOMERSET, N.J. — JLL Capital Markets has brokered the $33.5 million sale of Atrium Corporate Park in Somerset. Located at 300, 400 and 500 Atrium Drive, the 679,251-square-foot office park consists of three buildings and is situated on more than 47 acres. Joseph Garibaldi, Thomas Walsh, Heather Lombardi, Katelyn Borovsky and Nick Vanderslice of JLL represented both the buyer and seller, who were undisclosed, in the transaction.
NEW JERSEY — Arbor Realty Trust has originated a $10.4 million loan through Freddie Mac for the refinancing of New Jersey SFR portfolio, a 78-unit, 33-property portfolio in Jersey City, Newark, Paterson and Bayonne. Stephen York of Arbor’s New York City Office secured the financing for the borrower, who was undisclosed. Terms of the financing included a 10-year, fixed-rate loan with a 30-year amortization schedule. A majority of the properties in the portfolio were acquired in the past two years and have been recently renovated.
JERSEY CITY, N.J. — Marcus & Millichap has brokered the $3.6 million sale of a net-leased BP gas station in Jersey City. The property is located at 1505 John Fitzgerald Kennedy Blvd., directly off I-78, a major highway connecting Pennsylvania, New Jersey and New York. Preet Sabharwal, Dan Corcoran and Michael Grunberg of Marcus & Millichap’s Manhattan office represented the undisclosed seller in the transaction. The buyer was also undisclosed.
HARRISON, N.J. — CBRE has brokered the $14.5 million sale of a five-acre development site in Harrison. Located at 15 Essex St., the site consists of a 233,000-square-foot industrial facility as well as a vacant lot. Charles Berger, Elli Klapper, Mark Silverman, Thomas Sullivan and Paul Touhey of CBRE represented the undisclosed seller in the transaction. The buyer, which was also undisclosed, plans to demolish the existing industrial facility and build a multifamily development on the property.
SAYREVILLE, N.J. — Marcus & Millichap has brokered the $6.7 million sale of QuickChek Plaza, a 25,800-square-foot retail center in Sayreville. The property is located at 881 Main St. Alan Cafiero, Brent Hyldahl, Ben Sgambati, and Michael DeVita in Marcus & Millichap’s New Jersey office represented the seller, a developer, in the transaction. The buyer was a limited liability company.
FAIRFIELD, N.J. — Avison Young has arranged the sale of a 42,000-square-foot industrial facility in Fairfield. The sales price was not disclosed. Located at 2 Gardener Road, the property is the former headquarters of security inspection systems company Autoclear LLC. Matthew C. Turse, Timothy J. Cadigan and John Recchia of Avison Young represented the seller, Autoclear, in the transaction. The buyer was Third Wayne LLC. Avison Young also secured a five-year lease for Autoclear at a new 21,888-square-foot facility located at 10A Bloomfield Ave. in Pine Brook, New Jersey.
PRINCETON, N.J. — CBRE Institutional Properties has negotiated the sale of a 110,000-square-foot, two-building office complex in Princeton. The sales price was undisclosed. Located at 100 and 101 Thanet Circle, the property sits on 15 acres and is less than two miles from downtown Princeton and Princeton University. Jeffrey Dunne, Jeremy Neuer, Travis Langer and Zachary McHale of CBRE represented the undisclosed seller in the transaction. The buyer was KABR Group.
EDISON, N.J. — HFF has arranged a $41.5 million loan for the acquisition of Middlesex Logistics Center, a 507,000-square-foot warehouse and distribution center in Edison. Built in 2014, the fully leased property features 36-foot clear heights, 101 loading docks and parking for 190 cars and 135 trailers. The property is located at 549 Mill Road, approximately 35 miles southwest of New York City. Jon Mikula and Andrew Zilenziger of HFF represented the borrower, Cohen Asset Management in the transaction. Principal Real Estate Investors provided the 10-year, fixed-rate loan.
RIDGEFIELD, N.J. — Talonvest Capital has arranged a $13.6 million construction loan for a 152,000-square-foot self-storage facility in Ridgefield. Located at 625 Grand Ave., the five-story building will feature 1,220 climate-controlled storage units as well as drive-in loading bays. Tom Sherlock, Jim Davies, Erich Pryor, and Terra Hendrich of Talonvest secured the financing on behalf of borrower, Integritas Partners. The lender was a Midwestern bank. The loan included a five-year term with interest-only payments.