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681-Main-St.Belleville-New-Jersey
IndustrialLoansNew JerseyNortheast

Cushman & Wakefield Arranges $53.5M Construction Loan for Industrial Development in Belleville, New Jersey

by Taylor Williams

BELLEVILLE, N.J. — Cushman & Wakefield has arranged a $53.5 million construction loan for a 204,407-square-foot industrial project in the Northern New Jersey community of Belleville. The site at 681 Main St. spans 15.3 acres, and the building will feature a clear height of 36 feet, 33 loading docks, four drive-in doors and parking for 160 cars and 43 trailers. John Alascio, Chuck Kohaut, T.J. Sullivan and Jason Blankfein of Cushman & Wakefield arranged the loan through Los Angeles-based PCCP on behalf of the borrower, Lincoln Equities Group.

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IndustrialLoansNew JerseyNortheast

Faropoint Receives $90M Loan for Refinancing of Northern New Jersey Industrial Portfolio

by Taylor Williams

NORTH BERGEN, N.J. — Locally based investment firm Faropoint has received a $90 million loan for the refinancing of a portfolio of 10 industrial buildings totaling 770,000 square feet in North Bergen, located across the Hudson River from New York City. The buildings are all located within two industrial parks and were fully occupied at the time of sale. New York Life Real Estate Investors provided the loan, specific terms of which were not disclosed, to Faropoint.

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AcquisitionsNew JerseyNortheastOffice

NAI Hanson Arranges Sale of 8,000 SF Office Building in Succasunna, New Jersey

by Taylor Williams

SUCCASUNNA, N.J. — NAI James E. Hanson has arranged the sale of an 8,000-square-foot office building in Succasunna, about 50 miles west of Manhattan. The building sits on three-quarters of an acre at 22 U.S. Route 10 and is home to tenants such as Lakeside Endodontics and Suburban Natural Medicine. Joseph Vindigni of NAI Hanson represented the seller, Portwood LLC, in the transaction. The buyer was an entity doing business as Heritage Succasunna LLC.

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AcquisitionsHospitalityNew JerseyNortheast

JLL Arranges Sale of 117-Room Marriott-Branded Hotel Near Philadelphia

by Taylor Williams

MOUNT LAUREL, N.J. — JLL has arranged the sale of a 117-room, Marriott-branded hotel located outside of Philadelphia in Mount Laurel. The SpringHill Suites by Marriott Voorhees Mt. Laurel/Cherry Hill hotel is a four-story building that offers amenities such as a pool, fitness center, business center and 375 square feet of meeting and event space. Ketan Patel, Phil White and Vasilis Halakos of JLL represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Leasing ActivityNew JerseyNortheastOffice

Vatech America Signs 16,262 SF Office Lease in Teaneck, New Jersey

by Taylor Williams

TEANECK, N.J. — Vatech America, a manufacturer of dental imaging equipment, has signed a 16,262-square-foot office lease in the Northern New Jersey community of Teaneck. The space is located within the 670,000-square-foot, four-building Glenpointe mixed-use campus. Jeff Schotz, Peter Rossi, Dan Reider, Peter Kasparian and David Simson of Newmark represented the landlord, Alfred Sanzari Enterprises, in the lease negotiations. Harlan Hollander of Savills represented the tenant.

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AcquisitionsMultifamilyNew JerseyNortheast

Hudson Atlantic Arranges $3.6M Sale of Northern New Jersey Apartment Complex

by Taylor Williams

WOOD-RIDGE, N.J. — Locally based brokerage firm Hudson Atlantic has arranged the $3.6 million sale of The Highlander, a 19-unit apartment complex in the Northern New Jersey community of Wood-Ridge. The undisclosed seller originally developed the property, which according to Apatments.com exclusively offers one-bedroom units, in 1977. Adam Zweibel and Dante Fusaro of Hudson Atlantic brokered the deal. The buyer was also not disclosed.

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AcquisitionsNew JerseyNortheastRetail

Marcus & Millichap Arranges $6.2M Sale of Central New Jersey Shopping Center

by Taylor Williams

FLEMINGTON, N.J. — Marcus & Millichap has arranged the $6.2 million sale of The Shoppes at Flemington, a 130,613-square-foot shopping center in Central New Jersey. Home Goods and Ulta Beauty anchor the center as part of a roster of 26 national and local tenants. Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.

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118-119 Broadway-Long-Branch
DevelopmentMultifamilyNew JerseyNortheast

Kushner Breaks Ground on $130M Multifamily Project in Long Branch, New Jersey

by Taylor Williams

LONG BRANCH, N.J. — New York City-based developer Kushner has broken ground on a $130 million multifamily project in the Northern New Jersey community of Long Branch. Designed by Minno + Wasko Architects & Planners, the property will comprise two four-story buildings that will house 299 units in studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, coworking lounge, golf simulator, rooftop terraces, social lounges, pet spa, a children’s playroom and outdoor grilling and dining stations. A SuperFresh grocery market and neighborhood café will anchor the property’s retail component. The first units are expected to be available for occupancy in late 2025.

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AcquisitionsIndustrialNew JerseyNortheast

Marcus & Millichap Brokers $7.5M Sale of Industrial Development Site in Randolph, Massachusetts

by Taylor Williams

RANDOLPH, MASS. — Marcus & Millichap has brokered the $7.5 million sale of a 30-acre industrial development site in Randolph, a southern suburb of Boston. The site is located between East Randolph Industrial Park and Messina Industrial Park and can support up to 120,000 square feet of new development. Harrison Klein and James Manning of Marcus & Millichap represented the seller, an undisclosed private investor, in the transaction. The duo also procured the buyer, Bluewater Property Group, which will develop the site on a speculative basis and is targeting an early 2025 delivery.

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Grandview-Terrace-Jersey-City
AcquisitionsAffordable HousingMultifamilyNew JerseyNortheastSeniors Housing

Hudson Valley Property Completes Renovation of 283-Unit Affordable Seniors Housing Complex in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — Hudson Valley Property Group has completed the renovation of Grandview Terrace Apartments, a 283-unit affordable seniors housing complex in the Journal Square area of Jersey City. The $15.2 million, 16-month project upgraded the cabinetry, countertops, appliances, lighting, flooring, walls and water fixtures in the units and added amenities such as a new sky lounge with a stretching room, community room, library and a computer center. KeyBank provided construction financing for the project, and that loan was refinanced under HUD’s 223(f) program upon completion. 

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