WASHINGTON, N.J. — HFF has brokered the $16.2 million sale of The Village Shoppes at Hawk Pointe and Hunterdon Medical Office Building in Washington. The Village Shoppes at Hawk Pointe comprises an 81,415-square-foot, fully leased, ShopRite-anchored retail center. Other tenants at the retail property include Anytime Fitness and Visions Federal Credit Union. Built in 2016, the Hunterdon Medical Office Building is a 25,000-square-foot, single-tenant property occupied by Hunterdon Healthcare. HFF represented the seller, Asbury Farms, in the transaction. The buyer was Larken Associates.
PATERSON, N.J. — Silver Arch Capital Partners and Procida Funding & Advisors LLC have provided a $12.5 million refinancing for Art Factory Studios, a 170-year-old, 21-building creative office park situated on 4.7 acres in Paterson. The borrower, Great Falls Industrial Park Inc., will use the loan proceeds to pay off debt and make capital upgrades. Located at 60-70 Spruce St., the property is the former home of the American Hemp Co. Past redevelopment of the campus has included retail stores, event spaces and light industrial spaces as well as more office and studio space. Terms of the financing were not disclosed.
TRENTON, N.J. — Monmouth Real Estate Investment Corp. has acquired a 347,145-square-foot industrial facility in Trenton for $85.2 million. Located at 584 U.S. Highway 130, the 62-acre property is currently net-leased to FedEx Ground Packaging System Inc. with 14 years remaining on the term. The seller was undisclosed.
MANALAPAN, N.J. — CBRE has arranged the $8.6 million sale of Manalapan Tech Park, an 84,000-square-foot, 10-acre industrial flex facility in Manalapan. Located at 122-250 Park Ave., the property was built in 2005 and consists of nine buildings and 54 separate units. Each building includes both office and warehouse space. Charles Berger, Elli Klapper and Mark Silverman of CBRE represented the undisclosed seller in the transaction. The buyer was 120 Park SD LLC.
SOUTH BRUNSWICK, N.J. — CBRE has arranged a $19.5 million refinancing for a soon to be completed 305,598-square-foot industrial facility in South Brunswick. Located at 2270 Route 130, the property has been leased to regional last-mile delivery company Lasership. James Gunning, Donna Falzarano and Kyle Saviano of CBRE arranged the loan on behalf of borrower, 2270 Route 130 LLC. The lender was undisclosed. The building features 40-foot clear heights, 46 dock doors and 68 trailer parking spaces.
SOUTH BRUNSWICK, N.J. — Lee & Associates New Jersey has secured a 526,400-square-foot industrial lease for XPO Logistics in South Brunswick. Lee & Associates represented XPO Logistics in securing a long term lease with owner Prologis. The property is located at 115 Interstate Boulevard and previously served as the Tory Burch Distribution Center.
CARLSTADT, N.J. — Terreno Realty Corp. has acquired a 24,000-square-foot industrial property in Carlstadt for $3.5 million. Located at 130 Commerce Road, the property is less than two miles north of the Meadowlands Sports Complex and features four dock-high loading positions as well as parking for 20 cars. The property is currently fully leased to one tenant, Metrovision Production Group. The seller was undisclosed.
CHESTER, N.J. — Marcus & Millichap has negotiated the $1.2 million sale of the Centennial Building, a 10,650-square-foot mixed-use property in Chester. The property was built in 1876 and is located at 18-28 Main St. Michael Lombardi of Marcus & Millichap represented the seller, a private invester, in the transaction. The buyer was also a private investor.
CEDAR KNOLLS, N.J. — HFF has brokered the sale of a 120,000-square-foot office building in Cedar Knolls. Located at 240 Cedar Knolls Road, the four-story property is situated on 14 acres and is approximately two miles from downtown Morristown. HFF represented the seller, MB1 Capital Partners, in the transaction. The buyer was Highstone Equity Group. The building is currently 78 percent leased to a tenant roster that includes JAG Physical Therapy and P Value Communications.
WESTVILLE, N.J. — RPM Development Group has opened Westville Commons, a 55-plus apartment community in Westville, located just across the Delaware River from South Philadelphia. Affordable units are available for those who qualify, and the community was built to LEED Platinum certification using Passive House green building principles. Founded in 1986, RPM Development Group is one of the leading developers of affordable housing in New Jersey.