BURLINGTON, N.J. — IronLink Logistics, a third-party freight company formerly known as MD 3PL, has signed a 71,056-square-foot industrial lease in the Southern New Jersey community of Burlington. IronLink will occupy the entirety of a newly constructed building at 2609 Rancocas Road, which features a clear height of 32 feet. Nate Demetsky, Dean Torosian and Matt Kemery of JLL represented the landlord, metro Philadelphia-based developer Endurance Real Estate Group, in the lease negotiations. Casey Mungo of Daum Commercial represented the tenant.
EAST BRUNSWICK, N.J. — New Jersey-based developer Garden Communities has begun leasing Legacy Place, a 520-unit multifamily project located in the Northern New Jersey community of East Brunswick. The development features studio, one-, two- and three-bedroom units across two buildings with garage parking and 18,000 square feet of retail space, all on a 25-acre site. Amenities include a pool, outdoor grilling and dining areas, a coworking lounge, fitness center, dog park and walking trails. Rents start at roughly $2,300 per month for a one-bedroom apartment.
BURLINGTON, N.J. — United Fulfillment Solutions Inc. has signed a 217,986-square-foot industrial lease in the Southern New Jersey community of Burlington. The e-commerce company will occupy the entirety of Building 1 at Rancocas 5 Industrial Park, which features a clear height of 36 feet, 42 loading docks, 183 car parking spaces and 28 trailer drops. Nate Demetsky, Dean Torosian and Matt Kemery of JLL represented the landlord, regional developer Endurance Real Estate Group, in the lease negotiations. Allen Ding of Visionaire Real Estate represented the tenant.
FLEMINGTON, N.J. — Locally based financial intermediary G.S. Wilcox Co. has arranged a $16 million loan for the refinancing of a 170,000-square-foot shopping center in the Northern New Jersey community of Flemington. Grocer ShopRite anchors the center, which was fully leased at the time of the loan closing. Wesley Wilcox and Al Raymond of G.S. Wilcox arranged the loan, which carried a 10-year term, 30-year amortization schedule and flexible prepayment options, through an undisclosed life insurance company. The borrower was also not disclosed.
POHATCONG, N.J. — Locally based developer Larken Associates has broken ground on Monte View at Pohatcong, a 120-unit multifamily project. The site is located near the Pennsylvania-New Jersey border near Easton. The garden-style property will consist of three multi-story buildings and one four-story building with a ground-floor clubhouse. Other amenities will include a pool, fitness center and a dog run. The first move-ins are scheduled to begin in fall 2024.
SOUTH PLAINFIELD, N.J. — Cushman & Wakefield has arranged an $8.9 million refinancing for an industrial outdoor storage site in South Plainfield, about 40 miles south of Manhattan. The site spans 3.9 acres and houses an 11,500-square-foot warehouse, a paved and lit parking and outdoor storage space. The property is leased to EquipmentShare, a Missouri-based construction technology firm. John Alascio, T.J. Sullivan, Chuck Kohaut and Chris Meloni of Cushman & Wakefield arranged the financing through Lakeland Bank on behalf of the borrower, a partnership between Boston-based investment firm Marcus Partners and New Jersey-based Ridgecut Road.
LONG BRANCH, N.J. — A developer doing business as Ocean Cooper Revitalization LLC has opened Ocean Gate, a 170-unit apartment complex in the Northern New Jersey community of Long Branch. Designed by Monteforte Architectural Studio, the property offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and tile backsplashes. Outdoor amenities include a heated pool and sundeck, fire pits, private grilling and dining areas and a movie wall. Residents also have access to a clubhouse with a lounge, catering kitchen, coworking spaces, game room and a children’s play area, as well as a fitness center, pickleball and volleyball courts, a package room and a dog run. Rents start in the low $3000s per month for a one-bedroom apartment.
WEST NEW YORK, N.J. — Locally based brokerage firm Gebroe-Hammer Associates has negotiated the $4 million sale of 5414 Park Avenue Apartments, a 22-unit apartment building in West New York, located just outside Manhattan. The five-story, transit-served building consists of 13 one-bedroom units and nine two-bedroom units. David Betesh of Gebroe-Hammer represented the buyer and seller, both of which requested anonymity, in the transaction.
JERSEY CITY, N.J. — Franklin Credit Management Corp. has signed a 15,000-square-foot office lease renewal at 101 Hudson St. in Jersey City. The 42-story, 1.2 million-square-foot tower is located in the city’s Exchange Place neighborhood and is known as The Merrill Lynch Building. Conor Dolan, David Opper and Mike Nieliwodski of CBRE represented the landlord, The Birch Group, in the lease negotiations. The tenant representative was not disclosed.
JERSEY CITY, N.J. — CBRE and Cushman & Wakefield have brokered the $58 million sale of Harborside 4, a 1.3-acre multifamily development site located at 20 Christopher Columbus Drive in Jersey City. Veris Residential sold the lot to Related Cos., which plans to develop a luxury rental tower with approximately 800 units. Jeff Dunne, Bill Shanahan and Roland Merchant of CBRE co-brokered the deal in coordination with Cushman & Wakefield’s Andy Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso, Ryan Dowd and Brian Whitmer. Additional details about the development were not disclosed.