SECAUCUS, N.J. — G.S. Wilcox & Co. has arranged $25 million in financing for a 338,661-square-foot single-tenant warehouse facility located in Secaucus. Financed by Thrivent Financial, the loan features a fixed rate for five years and a 30-year amortization schedule. The 338,661-square-foot property is currently net leased by Staples. Gretchen Wilcox and Al Raymond of G.S. Wilcox originated the loan for the undisclosed borrower.
WOODBRIDGE, N.J. — Case Real Estate Capital, through Case Investors III, has provided a $15.1 million first mortgage bridge loan to SAMTD Acquisitions Woodbridge LLC, a residential developer, for the purchase of 7.1 acres of fully entitled land in Woodbridge. The property is approved for the construction of 355 residential units. Case expects the borrower to partner with a construction lender within a year to develop the residential property.
JERSEY CITY, N.J. — Roseland Residential Trust, a subsidiary of Mack-Cali Realty Corp., has opened M2 at Marbella, a residential tower located at 401 Washington Blvd. in downtown Jersey City. The 39-story property features 311 studio, one-, two- and three-bedroom apartment units. The property also features an 800-square-foot rooftop terrace, a 1,200-square-foot event room, a sky lounge, a 1,700-square-foot club room with lounge and billiard table, a conference room, two fitness centers with a yoga studio, a children’s playroom, an on-site concierge, an on-site dog run and a bike storage.
CEDAR KNOLLS, N.J. — Invesco Real Estate has completed the sale of Sterling Parc, a Class A multifamily community in Cedar Knolls. Cornerstone Real Estate Advisers acquired the property for $91 million. Situated on 22.5 acres, the 27-building property features 252 market-rate apartments, 56 age- and income-restricted apartments and eight income-restricted apartments in a mix of one-, two- and three-bedroom layouts. Communities amenities include a central clubhouse with an outdoor swimming pool, patio, grilling area, fitness center, business center and community room with full-size kitchen. At the time of sale, the property was 96 percent leased. Jose Cruz, Kevin O’Hearn, Stephen Simonelli, Michael Oliver and Marc Duval of HFF represented the seller in the transaction.
LOGAN TOWNSHIP, N.J. — Dermody Properties and Great Point Investors have broken ground on a new distribution facility at LogistiCenter at Logan, a master-planned 5.5 million-square-foot Class A industrial park in Logan Township. Located at 2810 Oldmans Creek Road, the 393,120-square-foot facility is slated for completion this fall. The facility will be e-commerce compliant with 36-foot clear heights and parking for 186 cars and 129 trailers. Great Point Investors is the strategic capital partner on the project.
VINELAND, N.J. — NAI Mertz has arranged the sale of an industrial building located at 301 N. Fourth St. in Vineland. Plastic Express Inc. acquired the 43,750-square-foot property from The Welfront Group for an undisclosed sum. The property features both industrial and office space, a 29,000-square-foot fenced-in and paved yard area, 18-foot clear ceiling heights, six tailgate doors and one drive-in door. Roy Kardon and John Brown of NAI Mertz represented the seller and the buyer in the deal.
WEEHAWKEN, N.J. — Lennar has unveiled 1200 Avenue at Port Imperial, a boutique condominium project located on Weehawken’s Port Imperial waterfront. The seven-story development features 103 condominiums, a grand salon lobby, library lounge, media screening room, children’s playroom, fitness center and the Skyline Social Room, which offers lounge space, a catering kitchen, bar, multiple gathering areas with fireplaces, sound systems and televisions. Designed by Handel Architects, the building features a sleek glass interior with brick and metal panel accents, large windows and private balconies/terraces to maximize views of the Hudson River and Manhattan skyline. Ranging from 887 square feet to 3,139 square feet, the one- to three-bedroom residences are available for sale, starting at $759,000. 1200 Avenue at Port Imperial is the second building to open within Lennar’s Avenue Collection, a series of amenity-rich residential properties on the New Jersey Gold Coast.
RAHWAY, N.J. — Gebroe-Hammer Associates has arranged the sale of Meridia at Waters Edge, an apartment community located at 4 City Hall Plaza in Rahway. 4 City Hall Plaza Urban Renewal LLC acquired the 108-unit property from Meridia’s Water Edge Urban Renewal Rahway LLC for $29.33 million. Built in 2014, the five-story residential building features one- and two-bedroom layouts. On-site amenities include a fitness center, laundry rooms, business center and lounges. Ken Uranowitz and Gehane Triarsi of Gebroe-Hammer represented the seller and identified the buyer in the deal.
JERSEY CITY, N.J. — Point Capital Development and Fields Construction Co. have completed the construction of The Baker Building, an apartment building located at 234 Suydam Ave. in Jersey City. Situated in the Lafayette neighborhood, the five-story complex features 83 apartments, a roof deck, courtyard, dog run, parking, lounge and fitness center. Additionally, the property is located in close proximity to the Liberty State Park light rail station. The complex was designed by C+C Architecture with Urban Design Workshop as the architect of record for construction.
HACKENSACK, N.J. — NAI James E. Hanson has brokered the sale of a medical office building located at 155 Polifly Road in Hackensack. Polifly Group acquired the 45,912-square-foot property from Polifly Plaza Associates for an undisclosed sum. The three-story building was 50 percent vacant at the time of sale. Hackensack University Medical Center currently occupies the first floor, leaving 20,269 square feet available for new tenants. The third floor is currently vacant, offering 15,000 square feet of contiguous office space. Randy Horning and Darren Lizzack of NAI Hanson represented the seller, while Anthony Cassano, also of NAI Hanson, represented the buyer in the deal.