Thursday, July 16, 2026
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111-Somogyi-Court-South-Plainfield-NJ
IndustrialNew JerseyNortheast

Bussel Realty Arranges $4M Industrial Property Sale in New Jersey

by Amy Works

SOUTH PLAINFIELD, N.J. — Bussel Realty Corp. has arranged the sale of an industrial property located at 111 Somogyi Court in South Plainfield. Somogyi Holdings LLC purchased the 64,990-square-foot property for $4 million. Situated on six acres, the property features 20-foot ceiling heights, 1,200 amps of electric power, 10 tailboards, seven drive-ins, wet sprinklers and rail service. David Blitt and Robert Sager of Bussel Realty represented the buyer, while CBRE represented the undisclosed seller in the transaction.

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Kohls-Plaza-Holmdel-NJ
LoansNew JerseyNortheastRetail

Cronheim Mortgage Arranges $13.4M Loan for 183,985 SF Retail Property in New Jersey

by Amy Works

HOLMDEL, N.J. — Cronheim Mortgage has arranged $13.4 million in refinancing for Kohl’s Plaza, a retail plaza located at the intersection of Route 35 and Union Ave. in Holmdel. The 10-year loan, which was placed with Voya Insurance and Annuity Co., features a 25-year amortization schedule. Purchase, N.Y.-based National Realty & Development Corp. manage the property, of which Tarrytown, N.J.-based Gibraltar Management also owns an interest. An 87,932-square-foot Kohl’s and a 37,020-square-foot Stein Mart anchor the property. Other tenants include Jersey Mike’s, 7-Eleven, Harmon Stores and Beach Bum Tanning. Andrew Stewart, Dev Morris and Allison Moravec of Cronheim Mortgage secured the financing for the borrower.

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1140-Parsippany-Blvd-NJ
New JerseyNortheastOffice

NAI James E. Hanson Arranges Sale of Two-Building Office Complex in New Jersey

by Amy Works

PARSIPPANY, N.J. — NAI Hanson has arranged the sale of Boulevard Common, an two-building office complex located at 1140-1160 Parsippany Blvd. in Parsippany. Micro Strategies Inc. purchased the properties for an undisclosed price and will relocate its offices from Mt. Olive, N.J. The complex offers 44,596 square feet of Class A office space, a state-of-the-art infrastructure and close proximity to Routes 287, 80 and 46. Josh Levering and Michael Walters represented the seller, HGF Parsippany Blvd LLC, in the transaction. The buyer was represented by Cushman & Wakefield.

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Lincoln-Equities-Morris-NJ
New JerseyNortheastOffice

Cushman & Wakefield Brokers $80M Sale of Three-Property Office Portfolio

by Amy Works

MORRISTOWN AND MORRIS TOWNSHIP, N.J. — Cushman & Wakefield has brokered the sale of a three-property office portfolio in Morris County, N.J. East Rutherford, N.J.-based Lincoln Equities purchased the 410,000-square-foot portfolio sold for $80 million, or $195 per square foot, from Edison, N.J.-based Alfieri LLC. The portfolio includes the 106,000-square-foot Harding Plaza located at 1200 Mt. Kemble Ave. in Morristown; the 151,400-square-foot 100 Southgate Parkway in Morris Township; and the 151,000-square-foot Patriot’s Plaza at 60 Columbia Turnpike in Morristown. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Kyle Schmidt of Cushman & Wakefield represented the seller, while the buyer had in-house representation during the transaction.

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AC-Hotel-Harrison-NJ
HospitalityNew JerseyNortheast

Advance Realty to Develop 150-Room AC Hotel by Marriott in Harrison, N.J.

by Amy Works

HARRISON, N.J. — Advance Realty is developing an AC Hotel by Marriott in the Riverbend District, the company’s 35-acre redevelopment project in Harrison. The 85,000-square-foot hotel will feature 150 guest rooms, a bar and lounge area, a breakfast area, outdoor seating, a meeting room, fitness center and a lobby. Additionally, the hotel will feature more than 4,300 square feet of retail and restaurant space, which will complement the residential, retail and office space that is under development in the Riverbend District.

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PRC-Valley-Run-DE
DelawareMultifamilyNew JerseyNortheast

HFF Arranges $65M in Financing for Three-Property Multifamily Portfolio

by Amy Works

NEPTUNE CITY, MATAWAN AND ABERDEEN, N.J., AND WILMINGTON, DEL. — HFF has secured $65 million in financing for a three-property, 974-unit multifamily portfolio in New Jersey and Delaware. The portfolio includes the 20-building, 428-unit Brighton Arms located on West Sylvania Ave. in Neptune City; the 24-building, 268-unit Tree Haven located at 120 and 130 Ravine Dr. in Matawan and 33 Aberdeen Road in Aberdeen; and the 28-building, 278-unit Valley Run at 2601 Carpenter Road in Wilmington. Jim Cadranell and Jon Mikula of HFF represented the borrower, PRC Group, to secure the fixed-rate financing for the portfolio in three separate transactions through Investors Bank.

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502-York-Street-Elizabeth-NJ
IndustrialNew JerseyNortheast

Bussel Realty Brokers Sale of 75,600 SF Distribution Facility in New Jersey

by Amy Works

ELIZABETH, N.J. — Bussel Realty Corp. has brokered the sale of a distribution facility, located at 502 York St. in Elizabeth. Federal Autocat, which currently leases the property, elected to execute its option to purchase the 75,600-square-foot facility for an undisclosed price. Situated on three acres, the property features 20-foot ceilings, multiple loading docks, one drive-in door, ample power and on-site parking. Jordan Metz of Bussel Realty represented the buyer, while David Blitt, also of BRC, represented the seller, Weisman Family Partnership LLC, in the transaction.

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10-Finderne-Ave-Bridgewater-NJ
New JerseyNortheastOffice

Hollister Construction Completes Office Renovation in New Jersey

by Amy Works

BRIDGEWATER, N.J. — Hollister Construction Services has completed the interior fit-out of a 38,000-square-foot medical office facility, located at 10 Finderne Ave. in Bridgewater, for Insmed Inc. The project involved the renovation of the existing office space, including the full interior demolition and re-construction of three floors, as well as the construction of 3,700 square feet of laboratory space on the third floor and a two-story, standalone mezzanine through the center of the building. The lower section of the mezzanine now features a meeting room with a flat-screen television and game center, including a shuffleboard table, and the middle level features a Tiki hut with a kitchenette, a peanut-shaped island and sitting areas. The project team included Alliances Architecture and AKF Engineers.

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748-Bellevue-Ave-Hammonton-NJ
MultifamilyNew JerseyNortheast

Marcus & Millichap Arranges $5.1M Sale of New Jersey Apartment Building

by Amy Works

HAMMONTON, N.J. — Marcus & Millichap has brokered the sale of Colonial Court Apartments in Hammonton. The 72-unit apartment building sold for $5.1 million. Located at 748 Bellevue Ave., the property consists of 12 buildings with 24 one-bedroom and 48 two-bedroom apartments. Nat Gambuzza of Marcus & Millichap represented the seller, a private investor, and the undisclosed buyer in the transaction.

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Mack-Cali-Centre-III-Paramus-NJ
HealthcareNew JerseyNortheastOffice

Valley Hospital Leases 73,978 SF at Mack-Cali Centre III in New Jersey

by Amy Works

PARAMUS, N.J. — Valley Hospital has signed a 10-year lease for 73,978 square feet of space at Mack-Cali Centre III in Paramus. Located at 140 East Ridgewood Ave., the property features two towers joined by a seven-story atrium, an on-site café with outdoor seating and advanced building systems. Robert Rudin of Cushman & Wakefield represented the tenant, while Chris DeLorenz of Mack-Cali represented the landlord. Additional terms of the transaction were not disclosed.

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