Thursday, April 3, 2025
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Hoboken-Point
DevelopmentMultifamilyNew JerseyNortheast

Hartz Mountain Industries Begins Leasing 262-Unit Apartment Community in Weehawken, New Jersey

by Taylor Williams

WEEHAWKEN, N.J. — Hartz Mountain Industries has begun leasing Hoboken Point, a 262-unit waterfront apartment community in the Northern New Jersey community of Weehawken. Units come in studio, one- and two-bedroom floor plans and feature stainless steel appliances, quartz countertops, individual washers and dryers and various pieces of smart-home technology. Amenities include a fitness center, coworking lounge, demonstration kitchen, game lounge and sports simulator, screening room and library, and a rooftop terrace. Rents start at $3,100 per month for a studio apartment. The first move-ins will begin in late spring. CetraRuddy designed Hoboken Point.

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The-Franklin-Westfield
DevelopmentMultifamilyNew JerseyNortheast

Coldwell Banker Begins Leasing 40-Unit Apartment Complex in Westfield, New Jersey

by Taylor Williams

WESTFIELD, N.J. — Coldwell Banker Realty has begun leasing The Franklin Westfield, a 40-unit apartment complex in Northern New Jersey. Locally based developer Adoni Property Group owns the property, which offers one-, two- and three-bedroom units ranging in size from 750 to 2,650 square feet. Amenities include a pool, fitness center, resident lounge, outdoor grilling and dining stations, business center, library and a pet park. Rents start at $4,300 per month for a one-bedroom apartment.

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301-321-Herrod-Blvd.-South-Brunswick-New-Jersey
IndustrialLeasing ActivityLee & AssociatesNew JerseyNortheast

Lee & Associates Arranges 255,000 SF Industrial Sublease in South Brunswick, New Jersey

by Taylor Williams

SOUTH BRUNSWICK, N.J. — Lee & Associates has arranged a 255,000-square-foot industrial sublease in South Brunswick, about 50 miles south of New York City. According to LoopNet Inc., the 610,949-square-foot property at 301-321 Herrod Blvd. was built on 39.5 acres in 1998 and features a clear height of 27 feet and 119 parking spaces. Drew Maffey, Will Ziegler and Matt Esposito of Lee & Associates represented the subtenant, an undisclosed storage company, in the lease negotiations. Dave Saltzman, also with Lee & Associates, represented the sublandlord, which also requested anonymity.

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180-Park-Avenue-Florham-Park-New-Jersey
AcquisitionsNew JerseyNortheastOffice

Vision Properties, Birch Group Refinance 228,000 SF Office Building in Florham Park, New Jersey

by Taylor Williams

FLORHAM PARK, N.J. — A joint venture between Vision Properties and The Birch Group has refinanced 180 Park Avenue, a 228,000-square-foot office building in Florham Park, about 30 miles west of New York City. The name of the life insurance company that provided the loan, as well as the amount, were not disclosed. Built in 2001, The Class A building is situated on 26.6 acres within the 268-acre Green at Florham Park master-planned development that is also home to Summit Medical Group, MD Anderson and the New York Jets. The joint venture acquired the building in October 2020.

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AcquisitionsNew JerseyNortheastRetail

JLL Negotiates $15.9M Sale of Northern New Jersey Shopping Center

by Taylor Williams

MARLBORO, N.J. — JLL has negotiated the $15.9 million sale of Brook’s Edge Plaza, a 70,274-square-foot shopping center in the Northern New Jersey community of Marlboro. Asian Food Market anchors the center, which was built in 2003. At the time of sale, Brook’s Edge Plaza was 98 percent leased to a tenant roster that includes four in-line food-and-beverage users, as well as a nail salon, drycleaner and a barbershop. J.B. Bruno, Kevin O’Hearn, Jose Cruz and Shaelyn Nuckel of JLL represented the seller, First Montgomery Group, in the transaction and procured the undisclosed buyer.

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1620-River-Road-Burlington-New-Jersey
DevelopmentIndustrialNew JerseyNortheast

Lee & Associates Secures 478,000 SF Industrial Lease in Burlington, New Jersey

by Taylor Williams

BURLINGTON, N.J. — Lee & Associates has secured a 478,000-square-foot industrial lease in the Southern New Jersey city of Burlington. The tenant is an undisclosed, international logistics company that will occupy the entirety of the building at 1620 River Road, which is located within Burlington Industrial Park. According to LoopNet Inc., the building was constructed in 2016 and features a clear height of 36 feet, 96 dock doors, four drive-in doors, 5,000 square feet of office space and parking for 179 cars and 72 trailers. Drew Maffey, Rick Marchisio and Michael Lee of Lee & Associates represented the tenant in the lease negotiations. Nate Demetsky of JLL represented the landlord.

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LoansMultifamilyNew JerseyNortheast

JLL Arranges Financing for 150-Unit Multifamily Project in Elmwood Park, New Jersey

by Taylor Williams

ELMWOOD PARK, N.J. — JLL has arranged financing for Riverwalk Phase IV, a 150-unit multifamily project that will be located in the Northern New Jersey community of Elmwood Park. Thomas Didio Jr. and John Cumming of JLL arranged the financing, which consisted of a $32 million, floating-rate construction loan from Provident Bank and a $17 million preferred equity investment from Hickory CRE Lending. The initial phases of the larger Riverwalk development were completed in 2012-2013. The final phase, which is slated for a fourth-quarter delivery, will also feature 15,000 square feet of retail space.

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AcquisitionsNew JerseyNortheastRetail

Marcus & Millichap Negotiates $4.7M Sale of Northern New Jersey Retail Building

by Taylor Williams

WESTFIELD, N.J. — Marcus & Millichap has negotiated the $4.7 million sale of a single-tenant, 35,968-square-foot retail building in the Northern New Jersey community of Westfield. The Gap has occupied the two-story building at 207 E. Broad St. for nearly 30 years. Alan Cafiero, David Cafiero and Dean Matuszewicz of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Leasing ActivityNew JerseyNortheastRetail

Barnes & Noble to Open 13,875 SF Bookstore in Ledgewood, New Jersey

by Taylor Williams

LEDGEWOOD, N.J. — Barnes & Noble will open a 13,875-square-foot bookstore in the Northern New Jersey community of Ledgewood. The retailer is taking space at The Shops at Ledgewood Commons, a 450,000-square-foot open-air lifestyle center that is a redevelopment of the former Ledgewood Mall. Marc Palestina and Chuck Lanyard of The Goldstein Group represented Barnes & Noble in the lease negotiations. Mike Testa, Shane Wierks and Bill Farkas of Jeffery Realty represented the landlord.

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Cornerstone-at-Branchburg
AcquisitionsMultifamilyNew JerseyNortheast

Walters Completes Lease-Up of 150-Unit Multifamily Property in Branchburg, New Jersey

by Taylor Williams

BRANCHBURG, N.J. — Locally based developer Walters has completed the lease-up of Cornerstone at Branchburg, a 150-unit, income-restricted multifamily property in Northern New Jersey. The development consists of two three-story buildings on an 11.7-acre site that are now fully occupied. Residences come in one- and two-bedroom floor plans and range in size from 700 to 900 square feet. Amenities include a fitness center, game room and outdoor grilling and dining areas. Construction began in May 2021, and leasing launched last spring.

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