BERKELEY HEIGHTS, N.J. — The Connell Co. will open a 25,000-square-foot fitness facility at The Park, the locally based developer’s 185-acre mixed-use redevelopment in the Northern New Jersey community of Berkeley Heights. The facility will be known as FIELDHOUSE and will offer fitness regimens such as Pilates, yoga and boxing. Members will also have access to a game room, a meditation room, nap and recovery rooms, a health bar and personal trainers and in-house nutritionists. The opening is slated for March.
ORANGE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $13.8 million sale of Wedgewood House, an 80-unit apartment complex located in the Northern New Jersey community of Orange. The garden-style, recently renovated complex was built on 1.8 acres in 1968 and houses studio, one- and two-bedroom units. Joni Sweetwood of Kislak represented the seller in the transaction. Daniel Lanni of Kislak represented the undisclosed buyer. Both parties requested anonymity.
LITTLE FERRY, N.J. — Launch Entertainment will open a 31,842-square-foot indoor trampoline park in the Northern New Jersey community of Little Ferry. The entertainment operator will backfill a space formerly occupied by grocer HMart within a 155,444-square-foot shopping center at 260 Bergen Turnpike. Marta Villa of CBRE represented the landlord, Bergen Ferry Associates LP, in the lease negotiations. Brian Wherty of Equity Retail Brokers represented Launch Entertainment.
ROSELAND, N.J. — Meisel Tuteur & Lewis has signed a 22,000-square-foot office lease in Roseland, about 25 miles west of Manhattan. The accounting and consulting firm is relocating from a nearby building to a built-out space on the second floor of a 220,000-square-foot building within Eisenhower Corporate Park. David Stifelman and Tim Greiner of JLL represented the tenant in the lease negotiations. Jeff Kolodkin of Newmark represented the undisclosed landlord.
CARLSTADT, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged a $49 million loan for the refinancing of a portfolio of four industrial buildings totaling 570,000 square feet in the Northern New Jersey community of Carlstadt. The buildings were constructed in the 1980s and feature clear heights of 22 feet, several loading docks and proximity to the New Jersey Turnpike. Gretchen Wilcox and David Fryer of G.S. Wilcox arranged the five-year, interest-only loan through an unnamed lender. The borrower was also not disclosed.
FLORENCE TOWNSHIP, N.J. — Colliers has negotiated a 431,720-square-foot industrial lease extension in the Southern New Jersey community of Florence Township. The cross-dock, single-tenant building at 1500 John Galt Way is located within The Haines Center Industrial Park and features clear heights of 30 to 37 feet. Marc Isdaner and Alex Stringfellow of Colliers represented the tenant, paper products provider Sylvamo North America, in the lease negotiations. Regional developer Whitesell Construction Co. owns the property.
SOUTH BRUNSWICK, N.J. — Mesa West Capital has provided a $53.5 million construction loan for Bridge Point 99, a 291,578-square-foot industrial project in South Brunswick, located north of Trenton in Central New Jersey. The site at 999 Cranbury South River Road spans 26.6 acres. The rear-load building will feature a clear height of 40 feet, 47 loading doors, two drive-in doors, 130-foot truck court depths and parking for 49 trailers and 181 cars. Delivery is slated for the second quarter. Steve Roth and Ryan Kieser of CBRE arranged the debt on behalf of the borrower, Bridge Industrial.
ISELIN, N.J. — Cushman & Wakefield has brokered the sale of a multifamily development site in the Northern New Jersey community of Iselin. The site at 186 Wood Ave. S. is located within the Centra at Metropark office campus. Andrew Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso and Ryan Larkin of Cushman & Wakefield represented the seller, The Hampshire Cos., in the transaction. The buyer, Woodmont Properties, did not disclose specific plans for development but did say that the project would include seniors housing.
SADDLE BROOK, N.J. — JLL has negotiated the $16.1 million sale of a 62,504-square-foot grocery store in the Northern New Jersey community of Saddle Brook that is leased to ACME Markets, a subsidiary of Albertsons. ACME has occupied the property at 75 Mayhill St. since it was built in 1998. Jose Cruz, Kevin O’Hearn, J.B. Bruno and Austin Pierce of JLL represented the seller, Vision Real Estate Partners, in the transaction. The buyer was The Winter Organization.
JERSEY CITY, N.J. — SCALE Lending, the debt financing arm of Slate Property Group, has funded two loans totaling $243 million for a pair of multifamily properties in the Journal Square area of Jersey City. In the first transaction, SCALE provided a $160 million construction loan for a 27-story project that will be located at 626 Newark Ave. The property will house 576 units, 9,915 square feet of street-level retail and 17,747 square feet of office space, with construction slated for a 2026 completion. In the second deal, SCALE provided an $83 million bridge loan for a 27-story, 235-unit building located at 26 Van Reipen Ave. that includes 7,562 square feet of retail and 7,546 square feet of office space. Proceeds from this loan will be used to retire construction debt and fund lease-up and stabilization costs. Drew Fletcher and Bryan Grover of Greystone arranged both loans on behalf of the borrower, Namdar Group.