PARSIPPANY, N.J. — NAI James E. Hanson has arranged the sale of an office building located at 119 Littleton Road in Parsippany. Commercial Realty Group acquired the 36,216-square-foot building from Hollywood Towne House LLC for an undisclosed sum. The property features two full floors of approximately 12,000 square feet each, in addition to pre-built suites starting at 1,384 square feet. Josh Levering and James Kenah of NAI Hanson represented the seller in the transaction.
ELIZABETH, N.J. — Sitar Realty Co. has arranged a 104,005-square-foot industrial lease at 699 Kapkowski Road in Elizabeth. CMC Food Inc. leased the space from Northport Industrial Center LLC. William Sitar Jr. and John Cranley of Sitar Realty Co. brokered the lease transaction. Terms of the lease were not released.
HOBOKEN, N.J. — NorthMarq Capital has arranged $81.9 million in refinancing for four affordable housing properties in Hoboken. Gary Cohen of NorthMarq secured the 10-year refinancing, which features a 30-year amortization schedule. The financing was arranged for the undisclosed borrower through NorthMarq’s seller-servicer relationship with Freddie Mac. Managed by Applied Housing Management, the properties feature a total of 448 units.
JERSEY CITY, N.J. — BelovED Community Charter School has acquired a half-acre parcel of land located at 535 Grand St. in Jersey City. Friends of the BelovED Charter School, a non-profit organization to support the development of the school and other charter schools, will develop a 40,000-square-foot middle school on the site. The non-profit is expected to obtain a mortgage and construction financing of $12 million from New Jersey Community Capital for the project. Designed by Urbahn Architects, the four-story school will serve 240 students in grades six to nine and feature 15 classrooms, four half classrooms, two science rooms, two art rooms, a music room, a cafetorium with warming kitchen, a gymnasium with a mezzanine, a media center/library, administrative offices and a large sub-dividable multipurpose room, as well as a 31-car parking lot and an outdoor assembly/recreation space.
BASKING RIDGE, N.J. — Daiichi Sankyo Inc. has signed a long-term lease for an office property located at 211 Mount Airy Road in Basking Ridge. The pharmaceutical firm plans to relocate its U.S. headquarters to the three-building campus, which was the former Avaya campus. The property features a full cafeteria, state-of-the-art fitness facilities, a 127-seat auditorium and an on-site conference center. After acquiring the property in 2013, Rubenstein Partners and Onyx Equities upgraded and repositioned the facility for modern office needs.
EAST RUTHERFORD, N.J. — NAI James E. Hanson has arranged the sale of The Landmark, a two-building property located at 33 Route 17 South in East Rutherford. The Hampshire Companies, through one of its funds, acquired the asset for an undisclosed price. Situated on 3.2 acres, the mostly vacant site consists of a 25,000-square-foot catering facility and a 53,000-square-foot industrial building. The property is zoned regional commercial and offers 225 feet of frontage along Route 17 South. The buyer plans to redevelop the site with a 100,000-square-foot self-storage facility and a convenience store with a gas station. Andrew Somple and Greg James of NAI Hanson represented the undisclosed seller in the transaction.
JERSEY CITY, N.J. — Ironstate Development has received $170 million in permanent mortgage financing for the newly completed 70 Columbus, a 545-unit, Class A apartment tower in downtown Jersey City, located just across the Hudson River from downtown Manhattan. Holliday Fenoglio Fowler (HFF) arranged the financing on behalf of Ironstate and Panepinto Properties. Northwestern Mutual Real Estate provided the 10-year, fixed-rate loan, which replaced the existing construction financing. Designed by Gwathmey, Siegel, Kaufman and Associates Architects (GSKA) and HLW International, 70 Columbus includes studio, one- and two-bedroom rental residences featuring views of the New York skyline, wood floors, stainless steel appliances and quartz countertops. Common-area amenities include a lobby with fireplace lounge and social spaces designed by Noé Duchaufour Lawrance, bike room, business center, 60,000-square-foot roof deck with swimming pool, sport court, table tennis, grilling stations, dog run, and a 30,000-square-foot fitness center. The 50-story tower is located at 70 Christopher Columbus Drive at the road’s intersection with Warren Street, and within walking distance of the Hudson River. Ground-floor retail space at 70 Columbus includes a Sunac Natural Market and a Base Fitness Gym. The apartment tower is part of a series of Ironstate developments on the street. The company also built 50 …
ELIZABETH, N.J. — Prologis has entered into a build-to-suit lease agreement with Fedway Associates, a wine and spirits distributor. The company will occupy a 539,000-square-foot stand-alone building at Prologis Ports Elizabeth-Seaport at 10 North Ave. East in Elizabeth. Located off Exit 13A on the New Jersey Turnpike, the distribution center will feature a 539,308-square-foot building and a planned 204,253-square-foot facility.
JERSEY CITY, N.J. — NAI James E. Hanson has arranged the sale of an office building located at 215 14th St. in Jersey City. Adithya Bathena acquired the 30,000-square-foot building from MIS for an undisclosed price. MIS plans to lease back space within the four-story building. The property also features ground-floor retail space that is currently leased to Dunkin’ Donuts. Russell Verducci and Eric Demmers of NAI Hanson represented the buyer, while Dan DePalma of JLL represented the seller in the transaction.
SADDLE BROOK, N.J. — NAI James E. Hanson has arranged the sale of a medical office building located at 190 Midland Ave. in Saddle Brook. Brook Development LLC sold the 18,140-square-foot property to a private buyer for an undisclosed price. The two-story building houses three operating rooms and a Joint Commission on Accreditation of Healthcare Organizations outpatient surgical center. Additionally, the facility is outfitted with fiber optic cables, integrated services digital network Internet access and ample covered parking. Darren Lizzack, Randy Horning and Hal Messer of NAI Hanson represented the seller and buyer in the transaction.
