SWEDESBORO AND LOGAN TOWNSHIP, N.J. — Cushman & Wakefield has negotiated a pair of industrial leases totaling 331,794 square feet in New Jersey. In the first deal, UPS renewed its 251,044-square-foot lease at 200 Birch Creek Road in Swedesboro. In the second transaction, Ryder Logistics signed an 80,750-square-foot lease at 395 Pedricktown Road in Logan Township. Both cities are located about 30 miles south of Philadelphia on the western part of the state. A brokerage team led by John Gartland of Cushman & Wakefield represented the landlords, both of which were undisclosed, in each of the lease negotiations.
SEACAUCUS, N.J. — CBRE has arranged the $34.2 million sale of One Harmon Plaza in Secaucus. The 192,089-square-foot office building is currently 95 percent leased. Samuel Bernhaut and Robert L’Abbate of CBRE represented the seller, a joint venture between Mountain Development Corp. and PCCP LLC. The buyer was ZI One Harmon Plaza LLC. The joint venture has made significant upgrades since purchasing the office building in 2014, including the renovation of the lobby and the addition of a new conference center, cafeteria and fitness facility.
ROBBINSVILLE, N.J. — Colliers has arranged the sale of The Shoppes at Foxmoor, a 125,295-square-foot retail center in Robbinsville. The sales price was undisclosed. The property is situated on 19 acres and is within walking distance of Town Center, a mixed-use development with over 900 residential units and 220,000 square feet of retail and office space. Jacklene Chesler, Patrick Norris, Matthew Brown and Angelo Vitale of Colliers represented the undisclosed seller. The buyer was also undisclosed.
MONTVALE, N.J. — JLL has arranged the sale of a 93,916-square-foot office building in Montvale. Located at 3 Paragon Drive, the building is occupied by global R&D firm Pentax Medical. Joseph Garibaldi, Thomas Walsh, Stephen Feinberg and Katelyn Borovsky of JLL represented the seller, The Davis Cos., in the transaction. The buyer was Northeast Capital Group. The sales price was undisclosed.
BRIDGEWATER, N.J. — Gebroe-Hammer Associates has negotiated the $32.5 million sale of Woodmont Square Apartments, a 100-unit multifamily community in Bridgewater. The market-rate apartment community was built in 2012 and is located at 100 Bellis Court. Amenities include a clubhouse, fitness center, game room, business center, basketball court and picnic area. Greg Pine, Stephen Tragash and Eli Herskowitz of Gebroe Hammer represented the seller, Woodmont Properties at Bridgewater LLC, in the transaction. The buyer was undisclosed.
WEST DEPTFORD, N.J. — HFF has secured a $13 million construction loan to expand a 113,000-square-foot industrial facility in the Philadelphia-area community of West Deptford. Located at 301 Grove Road, the facility is fully leased to global adhesive and sealant manufacturer Bostik Inc. The planned construction will add 122,000 square feet of distribution space with a 32-foot clear height, bringing the total square footage up to 235,000 square feet. Completion is expected in the spring of 2019. Michael Pagniucci and Doug Rodio of HFF represented the borrower, Foxfield Industrial, in securing financing through lender Webster Bank. The proceeds of the financing will take out the existing loan on the facility and fund the expansion.
FAIRFIELD, N.J. — Alexander Property Group has acquired a four-story, 48,000-square-foot office building in Fairfield. The sales price was undisclosed. Located at 700 Route East, the property is currently 98 percent leased. Alexander Property Group purchased the office building from Boston-based real estate development and management company the Davis Cos. and joint venture partner Rubicon Cos. The office building is located adjacent to the 204-room Fairfield Crowne Plaza Hotel.
FORT LEE, N.J. — New York Life Real Estate Investors has provided a $135 million loan for the refinancing of Hudson Lights, a residential and retail mixed-use development in Fort Lee. The floating-rate loan has an initial term of three years. The borrower was an institutional investor. Built in 2016, the development includes 276 market-rate apartments, 136,000 square feet of retail space and a parking garage.
LODI, N.J. — NAI James E. Hanson has arranged the sale of a 73,373-square-foot industrial facility in Lodi for an undisclosed price. Scott Perkins, Andrew Somple, Greg James, Christopher Todd and Justin Allessio of NAI James E. Hanson represented the seller, AEW, in the transaction. The buyer was Mood Fabrics. Located at 39 Robinson Road, the facility features 29-foot clear heights in 16,447 square feet of the building and 14-foot clear heights through the remaining 56,896 square feet. The facility also includes three tailgates and three drive-in doors.
MONTCLAIR, N.J. — Marcus & Millichap has negotiated the $1.6 million sale of two, six-unit apartment buildings in Montclair. The properties are located at 70 Pine St. and 108 Pine St. Julienne Pape of Marcus & Millichap represented the seller and buyer, both private investors, in the transaction. All units in the buildings were recently renovated.