EDISON, N.J. — One Stop Logistics has signed a lease for an industrial property located at 77 Executive Ave. in Edison. The third-party logistics provider of freight coordination services will consolidate its regional office and warehouse facilities into the 260,320-square-foot facility. Brian DiPinto of The Blau & Berg Co. represented the tenant, while Linda Hill and Doug Bansbach of Cushman & Wakefield represented the undisclosed landlord in the deal.
RARITAN, N.J. — Larken Associates has broken ground on a 14,000-square-foot built-to-suit building at the former Henderson Building property in Raritan. Rebranded as Raritan Valley Professional Center, the redeveloped property will offer more than 70,000 square feet of professional and medical office space by September. The property currently features a fully leased 40,000-square-foot building and a 17,000-square-foot Carriage House, which is original to the site. The existing building underwent renovations and modernizations, and the new building is slated for completion in September. Larken Associates acquired the assets in 2015 for an undisclosed price.
MORRISTOWN, N.J. — G.S. Wilcox & Co. has arranged a $19 million loan for 1776 On the Green, an office building located at 67 Park Place in Morristown. The 10-story building features 145,358 square feet of rentable Class A office space and 1,136 square feet of storage space. At the time of financing, the property was 79 percent leased. The loan, which was provided by Mutual of Omaha, features a 10-year term. Gretchen Wilcox, Al Raymond and Wesley Wilcox of G.S. Wilcox secured the loan for the undisclosed borrower.
FORKED RIVER, N.J. — Walters Group has completed the first phase of Cornerstone at Lacey, a 118-unit income-restricted housing development located in Forked River. Designed to achieve LEED and Energy Star status, the first phase of the development comprises 70 units in nine buildings. Construction is underway for the second phase, which will add 48 units in six buildings. Units range from one- to three-bedrooms and 835 square feet to 1,247 square feet. Community amenities will include a clubhouse with computer workstations and a fitness center, as well as a children’s tot lot, barbecue and picnic areas, and a half-court basketball court.
PARSIPPANY, N.J. — Savills Studley has arranged the acquisition of a 102,000-square-foot headquarters property, located at 339 Jefferson Road in Parsippany. MANE USA, a global fragrance and flavor design company, purchased the property from Prism Capital Partners for an undisclosed price. The company will relocate its headquarters from Wayne, N.J., to 70,000 square feet of the facility. Prism will fit out MANE’s new space, which will include office and research and lab space, as well as construct a new cafeteria and fitness center. Situated on five acres, the property features underground parking and surface lots. The two existing tenants, Hollister Construction Services and Ascend Laboratories, will remain in the building. Thomas Carragher, Adam Petrillo, Filomena Pinto and Christopher Koeck of Savills Studley represented the buyer in the deal.
WHIPPANY, N.J. — Barclays Capital, an anchor tenant, has acquired The Crossings at Jefferson Park, an 525,000-square-foot office property located at 115 S. Jefferson Road in Whippany. Vision Real Estate Partners and Rubenstein Partners sold the office campus for $69 million. The seller recently completed a revitalization and rebranding of the 65-acre campus, with the redesign focused on promoting health, wellness and sustainability. The campus features gourmet food services with indoor and open-air seating, a multi-function business lounge with casual seating and WiFi, and a 2,300-square-foot health and wellness center with state-of-the-art equipment, free weights and locker rooms with showers. Arthur J. Gallagher, PSKW, WithumSmith+Brown, JP Morgan Chase and Lord Abbett are tenants at the three-building campus.
NEW BRUNSWICK, N.J. — Sheldon Gross Realty has arranged the sale of a manufacturing facility located at 1007 Jersey Ave. in New Brunswick. Macritchie Storage acquired the 50,000-square-foot building, which sits on 3.8 acres, for $2.7 million. Jonathan Glick of Sheldon Gross Realty represented the undisclosed seller in the deal.
EDISON, N.J. — Domino’s Pizza has signed a lease for a 182,000-square-foot warehouse, located at 1075 King George Post Road in Edison. Domino’s plans to use the facility, which was developed by Liberty Property Trust, as a food processing and distribution center. Ken Ashley, John Wilkinson, Sam Hollis, Whitney Hembree, Matt Marshall and Jeff Williams of Cushman & Wakefield represented the tenant, while Chuck Fern, also of Cushman & Wakefield, represented the landlord in the lease.
CLIFFSIDE PARK AND PATERSON, N.J. — Gebroe-Hammer Associates has brokered the sales of three multifamily properties located in Cliffside Park and Paterson. Debbie Pomerantz of Gebroe-Hammer represented the sellers in both transactions. Nicholas Nicolaou, also of Gebroe-Hammer, represented the buyer in the Cliffside Park deal, while Pomerantz represented the buyer in the Paterson transaction. In Cliffside Park, an undisclosed buyer acquired a three-story building, located at 319 Palisade Ave., with 19 condominium-style units for $5.45 million, or $286,842 per unit. The one- and two-bedroom units feature hardwood floors, spacious layouts, central air conditioning and in-unit washers/dryers. Community amenities include a ground-level parking garage with direct elevator access. The name of the seller was not released. In Paterson, an undisclosed seller sold two buildings, located at 764-768 21st St. and 549-553 E. 38th St., for $3.2 million to an undisclosed buyer. The properties offer a total of 34 separately metered residential units.
CHERRY HILL, N.J. — Marcus & Millichap has brokered the sale of 926 Plaza, a retail strip center located at 926 Haddonfield Road in Cherry Hill. An undisclosed buyer acquired the property for $4.2 million, or $298 per square foot. The UPS Store, Sherwin Williams, Primo Hoagies and local businesses occupy the 14,123-square-foot property. Shannon Bona, Mark Taylor and Derrick Dougherty of Marcus & Millichap represented the undisclosed seller, while Michael Lombardi, also of Marcus & Millichap, represented the buyer in the transaction.