New Jersey

Atkins Cos., Capital Solutions Acquires 46,400 SF Building for Medical Office Use in Medford, New Jersey

by Amy Works September 8, 2017

MEDFORD, N.J. — Atkins Cos., in conjunction with Capital Solutions, has acquired Medford Medical Center, a medical office building located at 103 Old Marlton Pike in Medford. A condominium association sold the 46,400-square-foot property for $2.4 million. Prior to the sale, the facility was comprised of 20 condominium units owned by individual medical groups. As part of the transaction, the individual units converted back into a single ownership entity and the condominium association was dissolved. The buyer plans to renovate the exterior and interior of the property to create a new state-of-the-art medical facility. Larchmont Imaging and South Jersey Eye Physicians anchor the property. Evan Zweben of Colliers International was the sole broker in the transaction.

September 8, 2017

Industrial New Jersey Northeast

Sheldon Gross Realty Brokers Sale of 45,000 SF Warehouse Facility in Monroe Township, New Jersey

by Amy Works September 8, 2017

MONROE TOWNSHIP, N.J. — Sheldon Gross Realty has arranged the sale of a warehouse and office facility located at 10 Abeel Road in Monroe Township. NBR Equipment acquired the 45,000-square-foot property from Abeel Associates for an undisclosed price. The property, which features 24-foot ceiling heights, was 50 percent office space at the time of sale. The buyer plans to convert the building into a warehouse distribution facility. Jonathan Glick, Glenn Jaffe and Matthew Leonelli of Sheldon Gross Realty, along with Simone Realty, represented the buyer in the deal.

September 8, 2017

Multifamily New Jersey Northeast

DMG Tops Out 14-Story Multifamily Project in Cliffside Park, New Jersey

by Amy Works September 5, 2017

CLIFFSIDE PARK, N.J. — DMG Investments has topped out One Park, a 14-story multifamily project in Cliffside Park. Slated for completion in fall 2018, the development will feature 204 one-, two-, three- and four-bedroom condominiums, starting at $495,000. Designed by Architectura, with interior spaces by VLDG Inc., the residences feature kitchens with chef-caliber appliances, floor-to-ceiling windows, freestanding sculpted tubs and open showers. Additionally, the property will feature 25,000 square feet of indoor and outdoor amenity space, including a 24-hour attended front desk; aquatic center with indoor heated pool; adjoining outdoor sun deck, sauna and steam rooms; furnished roof deck with grilling stations, fire pits, intimate seating areas and an outdoor movie theater; fitness center with Pilates room, squash court, golf simulator, children’s playroom, pet spa and guest suites; and a secure parking garage.

September 5, 2017

Industrial New Jersey Northeast

Terreno Realty Acquires Three Industrial Properties in Carlstadt, New Jersey, for $13.5M

by Amy Works September 5, 2017

CARLSTADT, N.J. — Terreno Realty Corp. has acquired three adjacent industrial properties in Carlstadt for $13.5 million. Situated on 7.8 acres, the properties consist of two transshipment facilities totaling 43,400 square feet with 77 dock-high and 10 grade-level loading positions. The acquisition included one improved land parcel comprising 1.1 acres at 50 and 100 Kero Road. The properties are 100 percent leased to three tenants, two of which are on a short-term basis. The name of the seller was not released.

September 5, 2017

Multifamily New Jersey Northeast

JMF Properties Breaks Ground on $50M Multifamily Community in Plainfield, New Jersey

by Jaime Lackey August 30, 2017

PLAINFIELD, N.J. — JMF Properties has broken ground on Quin Sleepy Hollow, a $50 million residential community in Plainfield. This 212-unit rental development, located at 1400 South Avenue near the Netherwood train station, is the largest residential development ever in the city of Plainfield. Residences range in size from 900 square feet to 1,200 square feet. Amenities include stainless steel appliances, vinyl wood flooring, quartz countertops, and chef kitchens, as well as high-speed internet and keyless entry. Community amenities include a club room with common kitchen, community room/business center with wireless internet, billiards room, theater/multimedia room, yoga studio, fitness center with state-of-the-art equipment and Fitness On Demand virtual trainers, as well as outdoor grills, open-air lounge seating, an indoor/outdoor fireplace, and a dog park. The community will also offer a bike share program and an electric car charging station. The project is slated for completion in winter 2018/2019. “This project represents one of the single largest investments in the history of our city,” said Plainfield Mayor Adrian Mapp. “This project will not only transform a large blighted property into a vibrant residential community, but it will also revitalize a major corridor and spur additional retail and economic development. I am …

August 30, 2017

Industrial New Jersey Northeast

Cushman & Wakefield Brokers $12.1M Sale of 207,000 SF Industrial Space in Northern New Jersey

by Jaime Lackey August 29, 2017

NORTHVALE, N.J. — Cushman & Wakefield’s Metropolitan Area Capital Markets Group arranged the $12.1 million sale of 207,193 square feet of industrial space on 16.3 acres at 251 Union St. Pantheon Properties, which owns and develops a portfolio of properties in New York and New Jersey, sold the fully occupied property to a private investment group led by Duvi and Tuli Blumenberg. The building had been fully renovated by Pantheon. Cushman & Wakefield’s team included Andrew Schwartz, Andrew Merin, David Bernhaut, Gary Gabriel, Ryan Larkin, all from the East Rutherford, N.J.-based Metropolitan Area Capital Markets Group, as well as Andrew Siemsen from the Iselin office.

August 29, 2017

Multifamily New Jersey Northeast

178-Unit Apartment Community in Northern New Jersey Sells for $40.5 Million

by Kristin Harlow August 24, 2017

WEST ORANGE, N.J. — Rockledge Realty has sold Crest Ridge Apartments, a 178-unit garden-style apartment community in West Orange to Sela Realty Investments for $40.5 million. Built in 1964, the property is located at 200 Mt. Pleasant Ave., which offers views of the Manhattan skyline. The property features one-, two- and three-bedroom units with private entrances. Community amenities include a free-form swimming pool, clubhouse and sundeck. Greg Pine and Adam Zweibel of Gebroe-Hammer Associates represented the seller, which was the original developer/owner, and procured the buyer in the transaction.

August 24, 2017

Industrial Loans New Jersey Northeast

HFF Arranges $23.4M Refinancing for Industrial Property in Northern New Jersey

by Jaime Lackey August 23, 2017

CLIFTON, N.J. — Holliday Fenoglio Fowler (HFF) has arranged a $23.35 million loan for a partnership between Tulfra Real Estate and The Hampshire Companies to refinance a 204,000-square-foot industrial building. The 10-year, fixed-rate loan with Citizens Bank will be used to refinance the existing construction financing on the property, which is located at 65 South Industrial Street in the Passaic County community of Clifton. Situated on 11 acres, the property is located just off Route 3, less than two miles from the Garden State Parkway and seven miles from the New Jersey Turnpike. The industrial building recently underwent a multi-million dollar renovation that included raising the roof to provide a 27-foot ceiling height, new exterior skin, adding six new loading docks (for a total of 24), refinishing the warehouse floors, installing new lighting and sprinklers, adding new mechanical and electrical systems and fitting out 28,000 square feet of office space. The speculative redevelopment project is now fully leased to Damascus Bakeries, which will use the building as a second manufacturing facility and its corporate headquarters. Damascus will lease its space for a 15-year term and will also take a 50-percent ownership interest in the borrower entity. The HFF team included …

August 23, 2017

Industrial Loans New Jersey Northeast

Cushman & Wakefield Arranges $15.3M Financing for I-80 Distribution Center in New Jersey

by Jaime Lackey August 23, 2017

Paterson, N.J. — Cushman & Wakefield has assisted a joint partnership between Camber Real Estate Partners and Advance Realty in procuring $15.34 million of financing for the acquisition of 1200 Madison Avenue, a 245,529-square-foot institutional quality industrial building located immediately off Interstate 80 in Paterson. First Bank provided the financing. The property is currently 100 percent leased, with M. Tucker and SupplyOne serving as the anchor tenants. The building features 30-foot ceiling heights and 21 loading positions as well as ample car and trailer parks. A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Sridhar Vankayala and Noble Carpenter III represented the joint partnership between Camber Real Estate Partners and Advance Realty. Ryan Larkin of Cushman & Wakefield represented the seller and procured the buyer, working with Cushman & Wakefield’s Metropolitan Area Capital Markets Group team members Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Kyle Schmidt, as well as industrial leasing specialist Andrew Siemsen.

August 23, 2017

Industrial New Jersey Northeast

Colliers Brokers $5.65M Industrial Sale in Mount Laurel, New Jersey

by Jaime Lackey August 21, 2017

MOUNT LAUREL, N.J. — Colliers International has arranged the $5.65 million sale of 116 Gaither Drive in Mount Laurel, a fully leased 106,000-square-foot industrial building. Food Sciences Corp. has a long-term lease on the property, which features 24-foot clear ceilings, 13 loading docks, one drive-in door, heavy electric service and expansion capabilities. The Bloom Organization sold the property to a private investor. Ian Richman and Marc Isdaner of Colliers were the sole brokers.

August 21, 2017

Newer Posts

Older Posts