New Jersey

Cushman & Wakefield Brokers Sale of 115,000 SF Office Building in Parsippany, New Jersey

by Alex Patton September 30, 2019

PARSIPPANY, N.J. — Cushman & Wakefield has brokered the sale of 1 Gatehall Drive, a 115,000-square-foot office building in Parsippany, located approximately 25 miles west of New York City. At the time of sale, the building was 86 percent leased to more than 20 tenants. Gary Gabriel, David Bernhaut, Andy Merin, Frank DiTommaso, Andy Schwartz, William O’Keefe and Kelsey Nakamura of Cushman & Wakefield represented the seller, a joint venture between Lincoln Property Co, and Development Ventures Group. An affiliate of Lakewood Equities purchased the asset for an undisclosed price.

September 30, 2019

Acquisitions Multifamily New Jersey Northeast

CBRE Arranges $75.3M Sale of Two Multifamily Properties Near New York City

by Alex Patton September 27, 2019

HASBROUCK HEIGHTS AND LODI, N.J. — CBRE has arranged the $75.3 million sale of Skyline Apartments and Boulevard Apartments, two multifamily properties totaling 338 units in Hasbrouck Heights and Lodi, two adjacent western suburbs of New York City. Skyline Apartments comprises 124 apartments in Hasbrouck Heights, while Boulevard Apartments comprises 214 apartments located across both Hasbrouck Heights and Lodi. Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steven Bardsley, David Gavin and Eric Apfel and Nat Gambuzza of CBRE represented the seller, an investment consortium between Griffen Ltd. and Kushner Cos. The CBRE team also represented the buyer, a New York-based private investment firm.

September 27, 2019

Development Industrial New Jersey Northeast

J.G. Petrucci Nears Completion 57,000 SF Industrial Project in Hillsborough, New Jersey

by Alex Patton September 27, 2019

HILLSBOROUGH, N.J. — J.G. Petrucci Co. Inc. is nearing completion of a 57,000-square-foot industrial building in Hillsborough, located approximately 40 miles southwest of New York City. The project is build-to-suit for Permadur Industries, a manufacturer of construction equipment. The building will feature 37-foot ceiling heights and 17,000 square feet of office space, as well as 36,000 square feet of space designed for future expansion. Construction is currently underway and slated for completion by the end of 2019. The site also has the capacity to house an additional 36,000 square feet of new development.

September 27, 2019

Acquisitions Industrial New Jersey Northeast

JLL Brokers Sale of 40,781 SF Industrial Property in Oakland, New Jersey

by Alex Patton September 27, 2019

OAKLAND, N.J. — JLL has brokered the sale of a 40,781-square-foot light industrial property in Oakland, located approximately 30 miles northwest of New York City. The building, which is located roughly a mile from Interstate 287, features 20-foot clear heights, two drive-in doors and several thousand square feet of office space. The property was fully leased at the time of sale. Jose Cruz, Marc Duval and Jordan Avanzato of JLL represented seller, North Jersey Development Group, in the transaction. A private investor purchased the asset.

September 27, 2019

Acquisitions New Jersey Northeast Retail

CBRE Brokers Sale of 8-Acre Retail Property in Jefferson, New Jersey

by Alex Patton September 26, 2019

JEFFERSON, N.J. — CBRE has brokered the $1.9 million sale of an 8-acre vacant property in Jefferson, located about 45 miles west of New York City. The property, located at 757 State Route 15, originally housed a Pathmark grocery store. The buyer, 757 Route 15 Realty LLC, plans to develop the site into a Class A medical office building that is slated for completion in summer 2020. Thomas Mallaney and Denise Kokulak of CBRE represented the buyer in the transaction. Jefferson Sebastian-Parsippany LLC was the seller.

September 26, 2019

Leasing Activity New Jersey Northeast Retail

R.J. Brunelli Negotiates 24,000 SF Retail Lease in Old Bridge, New Jersey

by Alex Patton September 26, 2019

OLD BRIDGE, N.J. — R.J. Brunelli & Co. has negotiated a 24,000-square-foot retail lease for a Jersey Strong fitness center in Old Bridge, located about 35 miles south of New York City. The tenant will anchor the 84,900-square-foot Browntown Shopping Center along with a Walgreens. Danielle Brunelli and Richard Brunelli of R.J. Brunelli & Co. represented Jersey Strong in the lease negotiations, as well as the landlord.

September 26, 2019

Acquisitions New Jersey Northeast Retail

R.J. Brunelli Brokers Sale of 30,000 SF Retail Property in Plainfield, New Jersey

by Alex Patton September 25, 2019

PLAINFIELD, N.J. — R.J. Brunelli & Co. LLC has brokered the sale the sale of a vacant 30,000-square-foot retail building in Plainfield, a western suburb of New York City. The property is located at 165 E. Front St. and includes 10,000 square feet of space on each of three floors, plus a basement. Alan Gott of R.J. Brunelli represented the buyer, Paramount Assets, in the transaction. Gott also represented the seller, Abeco Management.

September 25, 2019

Industrial Leasing Activity New Jersey Northeast

Tecno Spa Signs 15,000 SF Industrial Lease in Somerset, New Jersey

by Alex Patton September 25, 2019

SOMERSET, N.J. — Office interior design firm Tecno Spa has signed a 15,000-square-foot industrial lease in Somerset, a southwestern suburb of New York City. The property, located at 65 Clyde Road, spans 160,000 square feet of industrial space with 24-foot ceiling heights, three loading doors and close proximity to the New Jersey Turnpike. Scott Perkins and Chris Todd of NAI James Hanson represented Tecno Spa in the lease transaction. TA Realty is the landlord.

September 25, 2019

Loans Multifamily New Jersey Northeast

JLL Arranges $19.9M Construction Loan for Multifamily Development in Netcong, New Jersey

by Alex Patton September 24, 2019

NETCONG, N.J — JLL has arranged a $19.9 million construction loan for the development of 34 Bank, a 126-unit multifamily property located in Netcong, located approximately 40 miles west of New York City. M&T bank provided the three-year, floating-rate loan. The property will feature a mix of one- and two-bedroom floor plans and amenities such as a fully equipped fitness facility and electric car charging stations. The location is within walking distance to the Netcong Train Station, downtown Netcong and the Musconetcong River. Jon Mikula and Michael Klein of JLL arranged the loan on behalf of the borrower, a joint venture between CrownPoint Group, The Hampshire Companies and Circle Squared Alternative Investments.

September 24, 2019

Industrial Leasing Activity New Jersey Northeast

CBRE Negotiates 30,000 SF Industrial Lease in East Orange, New Jersey

by Alex Patton September 24, 2019

EAST ORANGE, N.J. — CBRE has negotiated a 30,000-square-foot industrial lease in East Orange, a western suburb of New York City. Prime Global Solutions, a quality supplier and manufacturer of bulk materials, will occupy the warehouse and distribution center beginning in October. ABC Supply Co. occupies the other half of the 60,000-square-foot facility. Lou Belfer and Scott Belfer of CBRE represented the landlord, J.G. Petrucci, in the lease negotiations. Monica Franco and Priscilla Teixeira of Commercial Realty Partners represented Prime Global Solutions.

September 24, 2019

Newer Posts

Older Posts