READINGTON, N.J. — New Jersey-based developer Larken Associates has completed The Ridge at Readington, a 254-unit multifamily project located about 50 miles southwest of Manhattan. The Ridge at Readington features a mix of market-rate and affordable units in one- and two-bedroom formats across nine buildings. Residences are furnished with stainless steel appliances and quartz countertops. Amenities include a pool, fitness center, lounge and wet bar, outdoor pavilion, dog park and walking trails. Rents start at $1,950 per month for a one-bedroom apartment.
PISCATAWAY, N.J. — JLL has brokered the $26.5 million sale of a 101,381-square-foot warehouse located at 100 New England Ave. in the Northern New Jersey community of Piscataway. The industrial facility sits on eight acres and features a clear height of 24 feet, six loading docks and one drive-in door. Marc Duval, Jordan Avanzato, Frank Recine, Nicholas Stefans, Jason Lundy and Jose Cruz of JLL represented the undisclosed seller in the transaction. The buyer was also not disclosed.
PISCATAWAY, N.J. — Webster Bank has provided financing for a 109,000-square-foot warehouse and distribution center in the Northern New Jersey community of Piscataway. The building features a clear height of 24 feet, 24 loading docks and two drive-in doors and was fully leased to 19 tenants at the time of the loan closing. Michael Klein, Jon Mikula and Salvatore Buzzerio of JLL arranged the five-year, fixed-rate loan on behalf of the borrower, a joint venture between New Jersey-based Denholtz Properties and Boston-based Long Wharf Capital. The capital markets team involved in the deal did not specify how the loan proceeds would be used.
SWEDESBORO, N.J. — CBRE has brokered the $13 million sale of a 119,000-square-foot light industrial building in Swedesboro, about 25 miles south of Philadelphia. The single-tenant building sits on 12 acres and houses the corporate headquarters and distribution center of Thomas Scientific, a supplier of lab equipment. Stephen Marzullo, Adam Silverman, Michael Hines, Brian Fiumara, Brad Ruppel, Joe Hill and Lauren Dawicki of CBRE represented the seller, Newvine Corp., in the transaction. The buyer was New Jersey-based investment firm Faropoint.
TETERBORO, N.J. — Bergen Fitness has signed a 42,985-square-foot industrial lease renewal in the Northern New Jersey community of Teterboro. The multi-tenant complex at 100 Hollister Road totals 177,092 square feet. Darren Lizzack and Randy Horning of NAI James E. Hanson, along with Matthew Meade of MWM Group, represented the tenant in the lease negotiations. Marc Petrella of KBC Advisors represented the landlord, Dawson Logistics Assets.
NORTH BRUNSWICK, N.J. — Azarian Realty Co. has negotiated a 9,746-square-foot retail lease at The Shoppes at North Brunswick in Northern New Jersey. Kevin Pelio of Azarian represented the undisclosed landlord in the lease negotiations. David Dunkelman of Soloff Realty & Development represented the tenant, Big Blue Swim School. The Shoppes at North Brunswick is now 94 percent leased following the execution of this deal.
HARRISON, N.J. — Locally based developer Advance Realty Investors has begun preleasing The Wyldes, a 399-unit multifamily project in the Northern New Jersey community of Harrison. The five-story building houses studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops, custom cabinetry and individual washers and dryers. Amenities include a rooftop lounge with a bar and TVs; landscaped courtyard with fire pits and gaming areas; resort-style pool with grilling and dining stations; commercial-grade demonstration kitchen; coworking lounge with private offices and conference facilities; a billiards room with a media lounge and kitchenette; and a two-level fitness center with a yoga studio. Rents start at $2,050 per month for a studio apartment.
RED BANK, N.J. — Marcus & Millichap has brokered the $12.8 million sale of a 28,110-square-foot office and retail building in the Northern New Jersey community of Red Bank. The three-story building was constructed in 2000 and consists of two levels of office space and ground-floor retail space that is anchored by Urban Outfitters. Alan Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction. Joseph Belgiovine of Marcus & Millichap Capital Corp. arranged acquisition financing for the deal.
TEANECK, N.J. — Newmark has negotiated an office lease expansion at Glenpointe Centre East in the Northern New Jersey community of Teaneck. Jeff Schotz, Peter Rossi, Dan Reider, Peter Kasparian and David Simson of Newmark represented the landlord, locally based investment firm Alfred Sanzari Enterprises, in the lease negotiations. Andrew Zezas of Real Estate Strategies Corp. represented the tenant, Interstate Waste Services, which has leased space at Glenpointe Center East since 2013 and now occupies about 18,000 square feet.
UNION, N.J. — Nonprofit organization Rise Against Hunger has signed an 11,500-square-foot industrial lease in the Northern New Jersey community of Union. The facility features a clear height of 16 feet and two overhead loading docks. Tim Farley of Cushman & Wakefield represented the tenant in the lease negotiations. Joel Tomlinson of Silbert Realty & Management represented the landlord, locally based investment firm The STRO Cos.