New Jersey

Cushman & Wakefield Brokers Sale of 600,600 SF Distribution Facility in New Jersey

by Amy Works August 1, 2016

HAMILTON TOWNSHIP, N.J. — Cushman & Wakefield has arranged the sale of a distribution facility located at 401 Cabot Drive in Hamilton Township. The 600,600-square-foot building serves as the Eastern region distribution hub for Colgate-Palmolive. Completed in 2006, the property features 36-foot clear heights, 52-foot by 50-foot column spacing, 120-foot truck courts and ample car and trailer parking. Colgate-Palmolive currently occupies 431,340 square feet, with the remaining 169,260 square feet available for lease. Andrew Merin, David Bernhaut, Brian Whitmer, Kyle Schmidt, Andrew MacDonald, Stan Danzig and Jules Nissim of Cushman & Wakefield represented the undisclosed seller and buyer in the transaction.

August 1, 2016

Industrial Loans New Jersey Northeast

Denholtz Associates Secures $4M in Refinancing for Five Flex-Industrial Properties in New Jersey

by Amy Works August 1, 2016

BRIDGEWATER, N.J. — Denholtz Associates has secured a 10-year, $4 million refinancing on five of its flex-industrial properties located at 1W-5W Chimney Rock Road in Bridgewater. Totaling 115,714 square feet, the properties are part of the Bridgewater Business Park. Michael Cook of First Bank NJ negotiated the terms of the refinance. Bridgewater Business Park features 380,000 square feet of flex-industrial space.

August 1, 2016

Industrial New Jersey Northeast Office

The Hampshire Companies Sells 125,000 SF Industrial, Office Complex in New Jersey

by Amy Works July 29, 2016

HACKENSACK, N.J. — The Hampshire Companies has completed the sale of an industrial and office complex located at 86-110 Orchard St. in Hackensack. A private buyer acquired the property for an undisclosed sum. Situated on 5.2 acres, the 125,000-square-foot property features 110,000 square feet of warehouse space and 15,000 square feet of office space. The warehouse space is broken into 11 independent and fully demised industrial units with ceiling heights ranging from 14 feet to 25 feet. Additionally, the complex features 12 external docks, 10 drive-ins and 109 on-site parking spaces. Renovated in 2013, the property was 96 percent leased at the time of sale. Jeffrey DeMagistris, Thomas Vetter and Gregory James of NAI James E. Hanson represented The Hampshire Companies in the deal.

July 29, 2016

Loans New Jersey Northeast Office

NorthMarq Capital Arranges $7.2M Refinancing for Office Building in New Jersey

by Amy Works July 29, 2016

MORRISTOWN, N.J. — NorthMarq Capital has arranged $7.2 million in refinancing for The Governor Morris Center, an office and medical complex located at 25 Lindsley Drive in Morristown. Malvern Federal Bank provided the five-year fixed-rate loan for the 76,308-square-foot complex. The current owner, Lindsley Drive Associates, acquired the property in 2005. Gregory Nalbandian and Robert Delitsky of NorthMarq Capital secured the financing for the borrowers.

July 29, 2016

Industrial New Jersey Northeast

Bussel Realty Negotiates $9.1M Sale of 82,000 SF Industrial Facility in New Jersey

by Amy Works July 28, 2016

LINDEN, N.J. — Bussel Realty Corp. has negotiated the sale of an industrial facility located at 2401 E. Linden Ave. in Linden. Penwood Real Estate Management acquired the property from 265 Pennsylvania Realty for $9.1 million. The 82,000-square-foot facility features 5,000 square feet of office space, 21-foot clear heights and 10 loading docks, as well as a new paved parking lot, doors and HVAC. Three tenants in the food and pharmaceutical sectors, including Ultimate Foods, occupy the fully stabilized, net-leased building. Jordan Metz of Bussell Realty represented the buyer and seller in the transaction.

July 28, 2016

Loans Multifamily New Jersey Northeast

Progress Capital Secures $68.5M for Final Phase of Condo Tower in Jersey City

by Amy Works July 27, 2016

JERSEY CITY, N.J. — Progress Capital Advisors has arranged a $68.5 million construction loan for the final phase of Gull’s Cove, a nine-story condominium tower located in Jersey City’s Liberty Harbor North redevelopment area. Slated for completion in late 2017, Gull’s Cove II will feature 107 condo units in a mix of one-, two- and three-bedroom layouts ranging in size from 678 to 2,170 square feet. The new building is connected to the 331-unit first phase by ground-level retail spaces. On-site amenities include 24/7 concierge, fitness center, community room, common outdoor patio and covered on-site parking. In 2004, Progress Capital also arranged the initial $81 million loan for the construction of the development’s first phase. Kathy Anderson of Progress Capital arranged the financing for the undisclosed borrower.

July 27, 2016

Industrial Life Sciences New Jersey Northeast Office

QuVa Pharma to Acquire 160,000 SF Biotech Facility in New Jersey

by Amy Works July 27, 2016

NEW JERSEY — QuVa Pharma Inc. has signed an agreement to acquire an FDA-approved biotech pharmaceutical facility near Route 78 in western New Jersey. The 160,000-square-foot facility will enable QuVa Pharma to significantly extend its production capability and capacity to deliver high-quality, ready-to-use compounded sterile drug preparations to hospitals in key markets in the eastern half of the United States. QuVa currently operates two 503B-registered manufacturing facilities in Texas. Terms of the sale, including the name of the seller and acquisition price, were not released.

July 27, 2016

Mixed-Use New Jersey Northeast Office Retail

Marcus & Millichap Brokers $3.2M Sale of Mixed-Use Building in New Jersey

by Amy Works July 27, 2016

BAYONNE, N.J. — Marcus & Millichap has arranged the sale of Bayonne Plaza, a mixed-use property located at 473 Broadway in Bayonne. A private investor acquired the property from a developer for $3.2 million. The building features 29,577 square feet of space. Alan Cafiero, David Cafiero and Ben Sgambati of Marcus & Millichap represented the seller and the buyer in the deal.

July 27, 2016

New Jersey Northeast Retail

CBRE Negotiates Sales of Two Retail Properties in New Jersey Totaling $2.05M

by Amy Works July 27, 2016

BURLINGTON AND NEWARK, N.J. — CBRE has brokered the sales of two retail properties in New Jersey. In the first transaction, a double net-leased Dollar Tree property, located at 1204 Route 130 N in Burlington, sold as part of a 1031 exchange for $1.4 million. The name of the seller and buyer were not released. In the second deal, a 19,500-square-foot retail property located at 727 Frelinghuysen Ave. in Newark sold for $650,000 to an undisclosed buyer. At the time of sale, the property was 75 percent vacant. The name of the seller was not released. Charles Berger, Mark Silverman, Elli Klapper and Samuel Bernhaut of CBRE brokered the transactions.

July 27, 2016

New Jersey Northeast Office

Mack-Cali Realty Sells 100,000 SF Office Building in New Jersey

by Amy Works July 26, 2016

PARSIPPANY, N.J. — Mack-Cali Realty has completed the disposition of an office building, located at 600 Parsippany Road in Parsippany. A joint venture between Bukiet Building Management and Mountain Development Corp. purchased the 100,000-square-foot building free and clear of existing debt for an undisclosed price. The three-story building was 92 percent leased at the time of sale to a variety of tenants, including Aerotek, Level 3 Communications, Sonneborn, Certified Financial Services, Inglesino, Webster, Wyciskala & Taylor, Property Title Group and Dewberry. Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephan Simonelli and Marc Duval of HFF represented the seller in the deal.

July 26, 2016

Newer Posts

Older Posts

Upcoming Events

Aug
06