New Jersey

LIVINGSTON, N.J. — The Azarian Group has acquired Livingston Town Center in Livingston from an affiliate of Onyx Equities for $21.3 million. Livingston Town Center is located at the intersection of East Mount Pleasant Avenue and North Livingston Avenue and includes 65,000 square feet of retail space. Tenants include Destination Maternity, 7-Eleven, Anthony’s Coal Fired Pizza, Wells Fargo, Fit 36, Restore Cold Press Juices, X-Tend Barre and 19 others.  Amenities include fountain and sitting areas, a parking garage and 114 attached townhomes. Livingston Town Center is 94 percent occupied.

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NEWARK, N.J. — Cushman & Wakefield has brokered the $4.8 million acquisition of a 68-unit apartment portfolio in Newark. Cushman & Wakefield’s Brian Whitmer, Andrew Merin, David Bernhaut, Gary Gabriel, Seth Pollack and Ryan Dowd represented the buyer, a private investor. The portfolio includes two communities located one block from each other on Roseville Avenue. Both properties are three stories tall and were built in the early 1970s. The first, 467-479 Roseville Ave., contains 46 units and totals 37,000 square feet on 0.46 acres. The second, 385-391 Roseville Ave., includes 22 units and totals 17,600 square feet on 0.3 acres.

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CLIFTON, N.J. — Ideal Market Place has opened a new location at the Botany Plaza shopping center in Clifton. Ideal Market Place is a brand of the supermarket chain America’s Food Basket (AFB), which specializes in international foods. According to the AFB website, the company operates within all five boroughs of New York, and has expanded into New Jersey, Massachusetts, Connecticut and Rhode Island. AFB currently operates 43 locations, including the 24,500-square-foot Ideal Market Place in Clifton. Nassimi Realty, a privately held development and investment company, owns Botany Plaza.

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JERSEY CITY, N.J. — Lutze Biergarten, a 23,000-square-foot outdoor beer garden, has opened along the Hudson River waterfront in Jersey City. The property is adjacent to Harborside, a mixed-use asset. Mack-Cali Realty Corp. owns both properties. Lutze features three seating areas and a selection of craft beers, cider, wine and sangria, as well as food from Jake’s Downtown and Bacon Me Crazy.

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BRIDGEWATER, N.J. — Marcus & Millichap has negotiated the $4.2 million sale of Chimney Rock Plaza, a 14,700-square foot retail property located in Bridgewater. Ben Sgambati, Alan Cafiero and Brent Hyldahl of Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller, a private investor. The team also secured and represented the buyer, another private investor. Chimney Rock Plaza is located at 564-574 Union Ave. The property sits on 1.7 acres near Route 287 submarket.

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WASHINGTON TOWNSHIP, N.J. — Markeim Chalmers has negotiated a long-term lease for The Rothman Institute to occupy 20,000 square feet of a new 40,000-square-foot medical office building at Washington Township Town Center in Washington Township. Scott Martin represented both the tenant, The Rothman Institute, and developer The Atkins Cos. in the transaction. Located between Virtua Wellness Center and Kennedy Hospital, the two-story building is scheduled for completion by January 2018.

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Business was brisk in 2016 for retail real estate brokers in Central and Northern New Jersey. As online shopping continued to impact which retailers fill brick and mortar spaces, several trends emerged at malls and along New Jersey’s highways. The shrinking list of retail categories in which customers prefer or need to visit a store in person includes quick-serve and sit-down restaurants. Chick-fil-A opened new stores in Woodbridge and Jersey City; Chipotle in Holmdel; and Habit Burger in Eatontown, West Windsor, River Edge and Parsippany. Also on the list are gas stations, coffee shops, and convenience stores, including Street Corner, WaWa, Tim Horton’s, Quick Check, and 7-Eleven, which have all recently opened new locations, are under construction or are planning to open new stores throughout the state. Creative and art businesses also draw customers to brick and mortar locations. One River School of Art & Design, currently open in Englewood, is opening a second location in Allendale, and plans a roll-out nationally including a strong look at the Bell Works project in Holmdel. This art school for kids and adults and other creative concepts, such as the paint and sip retailers, remain very strong. School of Rock is another creative …

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BRIDGEWATER, N.J. — HFF has brokered the sale of 1125 Route 22, a 95,620-square-foot office building in Bridgewater. HFF marketed the property on behalf of the seller, KBS Realty Advisors, and procured the buyer, a partnership of Atkins Cos. and Capital Solutions. 1125 Route 22 is located along Route 22 West just off of Interstate 287. The property consists of two separate wings and is occupied by Bank of America and MidJersey Health Corp. The HFF investment sales team representing the seller included Jose Cruz, Kevin O’Hearn, Stephen Simonelli, Michael Oliver and Marc Duval.

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ORANGE, N.J. — Marcus & Millichap has arranged the $2.1 million sale of an 8,020-square-foot property net leased to Family Dollar in Orange. Ben Sgambati, Alan Cafiero and David Cafiero of Marcus & Millichap’s New Jersey office marketed the property on behalf of the seller, a developer. The team also secured and represented the buyer, a private investor. The building is located at 605 Scotland Road at its intersection with Tremont Avenue.

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