New Jersey

25-Cottage-St.-Jersey-City

JERSEY CITY, N.J. — Developer Nasser Freres has broken ground on a $300 million mixed-use project that will be located at 25 Cottage St. in the Journal Square neighborhood of Jersey City. Designed by Handel Architects with AJD Construction serving as the general contractor, the development will consist of 622 apartments, approximately 45,000 square feet of Class A office space and ground-floor retail space, all within a 28-story building. Units will come in studio, one-, two- and three-bedroom floor plans, and the building will feature a double-height lobby lounge with a reception area. Other amenities will include a relaxation zone and spa, an art gallery and studio, children’s playroom, karaoke room, pet spa, bowling alley, screening room, game lounge, speakeasy, VR sports room with arcade games and a catering kitchen. Residents will also have access to a coworking space with a lounge, private work pods and conference rooms, as well as fitness center, coffee bar, podcast/TikTok room and a party lounge. Lastly, a landscaped rooftop envisioned by Melillo Bauer Carman Landscape Architecture will feature a lounge with kitchen and dining areas, private grilling stations and a pool with a deck and loungers. Completion is slated for the first quarter of 2026.

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GLASSBORO, N.J. — Marcus & Millichap has brokered the $3.4 million sale of a 21,750-square-foot retail building in Glassboro, about 25 miles south of Philadelphia. The property is located on the campus of Rowan University at the base of the Whitney Center, a five-story student housing complex. At the time of sale, the property was 93 percent leased to 10 tenants, including 7-Eleven and Pizza Hut. Alan Cafiero, Brent Hyldahl, Seth Goldberg and Brad Nathanson of Marcus & Millichap represented the seller, Kinsley Properties LLC, and procured the buyer, JJU Properties LLC.

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WOODBRIDGE, N.J. — Colliers has brokered the $11.1 million sale of 900 on Nine, a 112,705-square-foot office building in the Northern New Jersey community of Woodbridge. The building was 54 percent leased at the time of sale to tenants such as NIP Group, Onyx Equities and Toshiba.   Jacklene Chesler, Patrick Norris, Philippe Jomphe and Matthew Cohen of Colliers marketed the property in conjunction with auction platform Ten-X on behalf of the seller, TFE Properties. The buyer was not disclosed.

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ELIZABETH, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the partial sale of Tudor Court, an 85-unit housing cooperative located at 800-822 N. Broad St. in the Northern New Jersey community of Elizabeth. The sale included 46 of the units and fetched an all-cash price of $5.2 million. The units were fully occupied at the time of sale. Janet Bortz and Joni Sweetwood of Kislak represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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EAST RUTHERFORD, N.J. —Seagis Property Group has completed the renovation of a 202,490-square-foot industrial building located at 13 Manor Road in the Northern New Jersey community of East Rutherford. The metro Philadelphia-based development and investment firm has also signed an undisclosed tenant to a full-building lease at the property, which features a clear height of 22 feet, 16 docks and 84 car parking spaces. Seagis purchased the building, which previously functioned as a manufacturing facility, in 2006.

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TOTOWA, N.J. — Cushman & Wakefield has negotiated the sale of a 506,723-square-foot industrial park in the Northern New Jersey community of Totowa. Totowa Commerce Center consists of 12 industrial buildings, one office building and a 5.8-acre development site. Building features include clear heights of 21 to 23 feet, 92 loading positions and aggregate parking for more than 1,400 cars. Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema of Cushman & Wakefield represented the seller, New Jersey-based Heritage Capital Group, in the transaction. The team also procured the buyer, Boston-based Longpoint Partners. The park was leased to more than 50 tenants at the time of sale. PGIM Real Estate provided a $63.5 million fixed-rate acquisition loan for the deal.

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ELIZABETH, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged an $11 million loan for the refinancing of a 223,000-square-foot shopping center located at 750 Dowd Ave. in the Northern New Jersey community of Elizabeth. Wesley Wilcox and Albert Raymond of G.S. Wilcox arranged the loan, which carries a 10-year term and a 25-year amortization schedule, through a correspondent life insurance company. The borrower was locally based firm Elberon Development Group.

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MOUNT LAUREL, N.J. — Colony Hills Capital has acquired Mount Laurel Crossing, a 296-unit apartment community in Southern New Jersey, for $79 million. The 14-building property was originally constructed in 1999 and offers one-, two- and three-bedroom units with an average size of 944 square feet. Amenities include a pool, fitness center, clubhouse, dog park and an outdoor lounge. Mount Laurel Crossing was 98 percent occupied at the time of sale. John Alascio, Alex Hernandez, Aaron Graves and John Spreitzer of Cushman & Wakefield arranged equity investments with Heitman (preferred) and Balfour Beatty Communities (common) on behalf of Colony Hills Capital. Fran Coyne, Carl Fiebig, Jose Cruz, Mike Oliver, Samantha Kupersmith and Tyler Margraf of JLL represented the undisclosed seller in the transaction.

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DAYTON, N.J. — CBRE has arranged a 285,362-square-foot industrial lease in Dayton, about 20 miles north of Trenton. The tenant, global logistics and fulfillment company Staci Group, is consolidating several locations into a single facility at 10 Sigle Lane. The newly constructed, single-tenant building features a clear height of 40 feet, 36 loading doors, an ESFR sprinkler system and 4,185 square feet of office space. Chad Hillyer, Kevin Dudley, Nicholas Klacik and Kate Granahan of CBRE represented Staci Group in the lease negotiations. Heller Industrial Parks Inc. owns the property.

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BAYONNE, N.J. — An entity doing business as Togus Urban Renewal LLC will develop 1888 Studios, a 1.5 million-square-foot film and TV production campus in the Northern New Jersey community of Bayonne. The 58-acre project will ultimately feature 17 buildings, 23 sound stages ranging in size from 18,000 to 60,000 square feet and 350,000 square feet of production support space. The development will also include office, storage and amenity space, as well as a parking garage and a five-acre public green space. Construction is expected to be complete by late 2026. The New Jersey Economic Development Authority provided an unspecified amount of tax credit equity to help finance the project.

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