EDISON, N.J. — Gordon Logistics has signed a 269,424-square-foot industrial lease at 180 Raritan Center Parkway in Edison. The logistics provider to food and beverage wholesalers and distributors will occupy the majority of the 354,000-square-foot warehouse facility. Scott Belfer, Lou Belfer and Nicholas Nitti of CBRE arranged the lease on behalf of building ownership, NJIND Raritan Center LLC.
PLAINFIELD, N.J. — Gebroe-Hammer Associates has brokered the $6.4 million sale of a four-building, 56-unit multifamily portfolio in Plainfield. The properties include 1003 Park Ave., 122-124 E. 7th St., 128 E. 7th St. and 138 E. 7th St. Adam Zweibel of Gebroe-Hammer represented the seller, Plainfield MF LLC., in the transaction. The buyer was undisclosed.
BLOOMFIELD, N.J. — G.S. Wilcox & Co. has secured $7.2 million in refinancing for a 76,192-square-foot office building in Bloomfield. The seven-story property is located in the central business district of Bloomfield. Gretchen Wilcox, David Fryer and Wesley Wilcox of G.S. Wilcox & Co. arranged a 10-year term and 25-year amortization through Securian Financial for an undisclosed borrower.
DELRAN, N.J. — Marcus & Millichap has negotiated the sale of a 10,000-square-foot net-leased retail property in Delran. The property, which is occupied by a day care franchisee, sold for $3.6 million. Michael Lombardi and Greg Babaian of Marcus & Millichap represented the seller, a private investor, in the transaction. The seller was undisclosed.
MORRISTOWN, N.J. — HFF and Transwestern have arranged the $5 million sale of a 20,000-square-foot office building in downtown Morristown. Located at 62 Elm St., the three-story building was built in 2006 and features a brick façade, flexible floorplates and 40 parking spaces. HFF and Transwestern represented the seller, Cornerstone Family Programs, in the transaction. A private buyer purchased the property.
HOBOKEN, N.J. — Spirit Bascom Ventures has acquired Columbus Park Apartments, a 37-unit multifamily community in Hoboken for $17.6 million. Located at 1024 Clinton St., the eight-story property is a former warehouse that was converted to multifamily use in the 1990s. The community also includes a 37-space parking structure. Stephen Simonelli of HFF and James Giaccio and Kevin Helsinki of Chelsea Realty represented the undisclosed seller in the transaction. HFF arranged acquisition financing through CIT Group. Spirit Bascom Ventures is a partnership between The Bascom Group LLC and Spirit Investment Partners LLC. The buyer plans to reposition the asset as a boutique institutional-quality property.
ATLANTIC HIGHLANDS, N.J. — KRE Group, in partnership with Verde Capital, has acquired Thousand Oaks Village, a 304-unit garden-style apartment property in Atlantic Highlands. The 36-acre property sold for $56 million. The seller was not disclosed. Located at 165 Thousand Oaks Drive, the community will be renamed Atlantic Pointe after capital investments that will include unit renovations and upgrades to amenities. Thousand Oaks Village is KRE Group’s fifth garden apartment acquisition within New Jersey in three years.
BAYONNE, N.J. — Marcus & Millichap has brokered the sale of a mixed-use building in Bayonne for $1.9 million. Fahri Ozturk and Tyler Van Wagoner of Marcus & Millichap represented the seller, a private owner, in the transaction. The buyer was undisclosed. Located at 554-556 Broadway, the building contains 10,260 square feet of ground-floor retail space and 7,510 square feet of second-floor office space. The new owner plans to redevelop the property into a four-story mixed-use building.
NEWARK, N.J. — Cushman & Wakefield has arranged the $7.2 million sale of a parking facility in downtown Newark. Located at 1160 Raymond Boulevard, the four-story garage can accommodate 357 vehicles. David Bernhaut, Andrew Merin, Gary Gabriel, Brian Whitmer, and Ryan Larkin of Cushman & Wakefield represented the sellers, Lincoln Equities Group and Welcome Parking. Edison Properties purchased the property.
WAYNE, N.J. — Axiom Capital Corp. has arranged a $20.5 million construction loan for the development of a 418,000-square-foot industrial facility in Wayne. The lender was a life insurance company. Once complete, the property will include 40-foot clear heights and 42 truck dock positions as well as 40,000 square feet of office space. The borrower was a private investor.