UNION CITY, N.J. — Marcus & Millichap has brokered the $7.8 million sale of a 22,000-square-foot retail strip center in the Northern New Jersey community of Union City. The center was fully leased at the time of sale to a pharmacy, laundromat and a physical therapy user. Alan Cafiero, Brent Hyldahl and Devin Perez of Marcus & Millichap represented the seller in the transaction. The team also procured the buyer in conjunction with Marcus & Millichap’s Dean Matuszewicz. Both parties requested anonymity.
EAST HANOVER, N.J. — Resource Realty of Northern New Jersey (RRNNJ) has secured a 15,005-square-foot industrial lease in East Hanover, about 25 miles west of New York City. The tenant, Tri-State Cleaning and Restoration, will occupy space at 906 Murray Road, which is located within the 1.2 million-square-foot Ridgedale Industrial Park. Tom Consiglio and Scott Peck of RRNNJ represented the undisclosed landlord in the lease negotiations. Brian Wilson, also with RRNNJ, represented the tenant.
METUCHEN, N.J. — HarborPoint Residential has purchased a 22-unit apartment complex in the Central New Jersey community of Metuchen for roughly $8 million. The building at 22 Center St. is located in the downtown area and comprises 19 market-rate units and three affordable units. Amenities include a gym, storage lockers and a rooftop terrace. The DiOrio Commercial Team at Berkshire Hathaway HomeServices Fox & Roach’s Commercial Division represented the seller and developer, Ramani Group, in the deal.
EAST HANOVER, N.J. — Resource Realty of Northern New Jersey (RRNNJ) has negotiated a 158,440-square-foot industrial lease in East Hanover, about 25 miles west of New York City. The tenant, J&J’s Tri-State Delivery Service, will occupy the entire building at 903 Murray Road, which is located within the 1.2 million-square-foot Ridgedale Industrial Park. Tom Consiglio and Scott Peck of RRNNJ represented the undisclosed landlord in the lease negotiations. John Friedland of United Realty Advisors represented the tenant.
NEWARK, N.J. — Data security firm Sphere Technology Solutions will open a 17,000-square-foot office in Newark. The space is located at 3 Gateway, a 500,000-square-foot, newly repositioned building that is one of four within a 2.3 million-square-foot campus known as The Junction. Jamie Ragucci and Hope Brodsky of Newmark represented the tenant in the lease negotiations. Curtis Foster, Jerry Shifrin and Matt Zaplin of Cushman & Wakefield represented the landlord, Rugby Realty.
DENVILLE, N.J. — Cushman & Wakefield has brokered the sale of a two-story, 15,879-square-foot office building located at 165 E. Main St. in the Northern New Jersey community of Denville. Andrew Schwartz, Jordan Sobel, André Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the seller the transaction. Toni Kaufmann of Realty Executives represented the new owner-occupier, which also requested anonymity.
DAYTON, N.J. — CBRE has brokered the $5.7 million sale of an industrial outdoor storage (IOS) facility in Dayton, located in Central New Jersey. The site at 3 Wheeling Road includes a warehouse/service facility in addition to 3.5 acres of useable outdoor space. Mark Silverman, Elli Klapper, Liam McGregor and Mark Trevisan of CBRE represented the undisclosed seller in the transaction and procured the buyer, private investment firm Genesis.
NEWARK, N.J. — PGIM Real Estate has funded a $140.5 million, floating-rate acquisition loan for a national portfolio of six cold storage facilities totaling approximately 853,000 square feet. The names and addresses of the properties were not disclosed, but the locations are scattered across Boston, Philadelphia, Orlando, Tampa and California’s Inland Empire. The borrower is a partnership between Artemis Real Estate Partners and Provender Partners.
WEST ORANGE, N.J. — Local investment firm Invel Capital has purchased a 70-unit apartment complex in West Orange for $40.8 million. Completed in 2023, the property at 555 Northfield Ave. offers one-, two- and three-bedroom units with an average size of 1,305 square feet. Amenities include a fitness center, rooftop terraces, resident lounges and a dog run. Oliver, Steve Simonelli, Jose Cruz, Ryan Robertson, Elizabeth DeVesty and Austin Pierce of JLL brokered the deal. Invel partnered with Chicago-based Pearlmark on the acquisition. The seller was a joint venture between Varma Real Estate and Garas Development.
CAMDEN, N.J. — Inland Private Capital Corp. and Devon Self Storage, which are both part of The Inland Real Estate Group of Cos., have completed a 1,070-unit self-storage project in the Southern New Jersey community of Camden. The site at 1501 Admiral Wilson Blvd. formerly housed a warehouse and distribution facility, and the new storage building features 110,000 net rentable square feet of climate-controlled space. The Camden project marks the 19th collaboration between the two groups.