New Jersey

Legacy Builders Completes Renovation of 30-Story Multifamily High-Rise in New Jersey

by Alex Patton July 10, 2019

CLIFFSIDE PARK, N.J. — General contractor Legacy Builders has completed the renovation of Apogee Co-Op, a 30-story multifamily high-rise at 250 Gorge St. on New Jersey’s Gold Coast. The property includes 315 units. As part of the facelift, Legacy overhauled and modernized the aesthetics of the entranceway, lobby and amenities of the property, which was originally built in 1972. Rental prices have appreciated more than 20 percent since renovations began in 2014. New York City-based Steven Kratchman Architect served as the project designer.

July 10, 2019

Development Multifamily New Jersey Northeast

Diversified Properties Breaks Ground on 35-Unit Multifamily Apartment

by Alex Patton July 10, 2019

EAST RUTHERFORD, N.J. — Local developer Diversified Properties LLC has broken ground on a 480 Flatz, a 35-unit multifamily property in East Rutherford. The four-story property will offer one-, two- and three-bedroom apartments that will range in size from 700 to 1,100 square feet. Units will feature quartz countertops and stainless steel appliances, as well as proximity to public transit lines and retail hubs. Thomas J. Brennan Architects is designing the project.

July 10, 2019

Industrial Leasing Activity New Jersey Northeast

JLL Negotiates 203,488 SF Industrial Lease in South Brunswick, New Jersey

by Taylor Williams July 3, 2019

SOUTH BRUNSWICK, N.J. — JLL has negotiated a 203,488-square-foot industrial lease at 85 Stults Road in South Brunswick, located north of Trenton, on behalf of an undisclosed apparel company. A joint venture between EverWest Real Estate Investors and Accordia Realty Ventures is developing the facility and expects it to be available for occupancy by the end of the year. Building features will include 36-foot clear heights, 52 loading docks, four drive-in doors, 38 automobile parking spaces and 75 trailer parking spaces. Brian Golden of JLL represented the joint venture, which is also developing a 369,000-square-foot industrial project on an adjacent parcel, in the lease negotiations. Joel Lubin and Gary Politi, also with JLL, represented the tenant, which signed a 10-year lease.

July 3, 2019

Acquisitions New Jersey Northeast Office

Cushman & Wakefield Arranges $36M Sale of New Jersey Office Asset

by Taylor Williams July 2, 2019

WOODCLIFF LAKE, N.J. — Cushman & Wakefield has arranged the $36 million sale of a 118,000-square-foot office property in Woodcliff Lake, located in the northern part of the Garden State. Brooklyn-based Sheila Properties purchased the asset, which was fully leased at the time of sale to a subsidiary of Japanese pharmaceutical firm Eisai Inc., from Hartz Mountain Industries. David Bernhaut, Andrew Merin, Gary Gabriel, Brian Whitmer and Kyle Schmidt of Cushman & Wakefield represented both parties in the transaction.

July 2, 2019

Industrial Leasing Activity New Jersey Northeast

NKF Negotiates 200,000 SF Industrial Lease in Parsippany, New Jersey

by Taylor Williams July 1, 2019

PARSIPPANY, N.J. — Newmark Knight Frank (NKF) has negotiated a 200,000-square-foot industrial lease at 100 Jefferson Road in Parsippany, located west of Newark, on behalf of Vitaquest International LLC, a manufacturer of nutritional foods. James Ritman and Trevor Patterson of NKF represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.

July 1, 2019

Leasing Activity New Jersey Northeast Retail

WowMoms World to Open 6,200 SF Store in Paramus, New Jersey

by Taylor Williams June 28, 2019

PARAMUS, N.J. — WowMoms World, a family wellness concept that offers yoga, flotation therapy and massage therapy, will open a 6,200-square-foot store in Paramus, located north of Newark, this fall. The store will be the Canada-based franchise’s first location in the Garden State. David Townes and Alana Friedman of Cushman & Wakefield represented both the tenant and the landlord in the lease negotiations.

June 28, 2019

Crow-Holdings-at-Veronica-Ave-Franklin-Township-New-Jersey

Development Industrial New Jersey Northeast

Crow Holdings Breaks Ground on 925,000 SF Industrial Project in New Jersey

by Taylor Williams June 27, 2019

FRANKLIN TOWNSHIP, N.J. — Crow Holdings, the industrial development arm of Trammell Crow Co., has broken ground on Crow Holdings at Veronica Ave., a 925,000-square-foot speculative project in Franklin Township. The Class A property will be located between Trenton and Newark and is expected to open in the first quarter of 2020. Building features will include a clear height of 40 feet, 170 trailer parking spaces, 159 dock positions and 394 automobile parking spaces. Cushman & Wakefield will handle leasing of the facility.

June 27, 2019

Development Multifamily New Jersey Northeast

Prism, Northwestern to Develop 232-Unit Multifamily Project in Woodbridge, New Jersey

by Taylor Williams June 25, 2019

WOODBRIDGE, N.J. — A joint venture between Prism Capital Partners and Northwestern Mutual Insurance Co. has acquired land in Woodbridge, located south of Newark, for the development of a 232-unit apartment project. The transit-served community will also include 12,000 square feet of retail space. Construction will begin in July with the demolition of the former Lucas Chevrolet dealership that is located on the site. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt and Ryan Dowd of Cushman & Wakefield represented the joint venture in the land sale. Northwestern is also providing construction financing for the project, which has a construction schedule of about 20 to 24 months.

June 25, 2019

Development Multifamily New Jersey Northeast

Woodmont Properties Opens 220-Unit Apartment Community in Bayonne, New Jersey

by Taylor Williams June 25, 2019

BAYONNE, N.J. — Woodmont Properties, a development firm based in Fairfield, New Jersey, has opened Woodmont Bay Club, a 220-unit apartment community in Bayonne, located across from Brooklyn. The waterfront property offers studio, one-, two- and three-bedroom units. The apartments feature quartz countertops, 9-foot ceilings and private balconies. Amenities include a pool, outdoor grilling area, fitness center, business center, game room, pet spa, golf simulator and a sky lounge. Residents can also enjoy access to a waterfront walkway and a network of nature trails.

June 25, 2019

Development Industrial New Jersey Northeast Top Stories

Joint Venture Breaks Ground on 4.1 MSF Industrial Park in Linden, New Jersey

by Taylor Williams June 24, 2019

LINDEN, N.J. — A joint venture between Advance Realty Investors, Greek Development and PGIM Real Estate has broken ground on Linden Logistics Center, a 4.1 million-square-foot industrial park in Linden, located south of Newark. Linden Logistics Center will consist of eight Class A buildings that will run the gamut of industrial uses: warehousing, distribution, logistics, fulfillment and manufacturing. The development team will complete the project in phases, with the first deliveries slated for late 2020. Upon completion, the property will be the largest industrial development in the region, according to the developers. The project is situated on 350 acres off Tremley Point Road near the Port of New York/New Jersey. Prior to the joint venture acquiring the plot in 2018, the land was vacant for 15 years. The site housed chemical manufacturing operations during the 20th century. Estimated development costs for the new property were not disclosed. In addition to being located within 10 miles of the port, Linden Logistics Center will offer proximity to the New Jersey Turnpike and Newark Liberty International Airport. Individual buildings will be designed with flexible layouts to suit specific tenants. Excess space will be available for car and trailer parking, cross-docking capabilities and rail …

June 24, 2019

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