LIVINGSTON, N.J. — Cushman & Wakefield has negotiated the $5.2 million sale of a 27,252-square-foot office and retail building in the Northern New Jersey community of Livingston. The two-story building sits on 2.3 acres and was fully leased at the time of sale. Andy Schwartz, Brian Whitmer, Jordan Sobel and Andre Balthazard of Cushman & Wakefield represented the seller, ACFM Corp., in the transaction. The buyer was HREA LLC.
CLIFTON, N.J. — Lee & Associates has brokered the sale of a 20,000-square-foot warehouse in the Northern New Jersey community of Clifton. The building at 25 Styertowne Road is a single-tenant property that was fully leased to food manufacturer Pereg Gourmet at the time of sale. Josh Krantz of Lee & Associates represented the seller, New Jersey-based Kessler-Schwartz Associates, and procured the undisclosed buyer in the off-market deal.
PLAINSBORO, N.J. — Locally based brokerage firm Fennelly Associates has negotiated the $7.7 million sale of an industrial property in Plainsboro, about 50 miles southwest of Manhattan. The facility, which sits on a 31-acre site and totals 50,150 square feet, was originally built in 1957 as a nuclear research facility and subsequently used for pharmaceutical research and development. Jerry Fennelly and Matt Fennelly of Fennelly Associates represented the seller, Turkey Island Corp., in the transaction and procured the buyer, Princeton Life Science Park.
ROCKAWAY TOWNSHIP, N.J. — A partnership between two locally based developers, KRE Group and Russo Development, has completed the latest phase of Rock Pointe, a multifamily project in the Northern New Jersey community of Rockaway. This phase adds 78 one- and two-bedroom units to the local supply, with rents starting at $2,250 per month. Rock Pointe now offers a total of 345 residences and amenities such as a pool, fitness center, children’s play area, outdoor grilling and dining stations, package lockers and a dog park.
PASSAIC, N.J. — Coldwell Banker has begun leasing South Street Lofts, a 63-unit apartment complex located in the Northern New Jersey community of Passaic. The building offers studio, one- and two-bedroom units ranging in size from 755 to 1,885 square feet,. Amenities include a fitness center, resident lounge, business center, rooftop deck, outdoor grilling stations and a dog park. Rents start at $2,500 per month, and the complex is now 40 percent preleased. The owner/developer was not disclosed.
SOUTH PLAINFIELD, N.J. — Lee & Associates has negotiated a 189,000-square-foot industrial lease in South Plainfield, about 35 miles south of Manhattan. The tenant, an undisclosed logistics group, will occupy the entirety of the building at 602 New Market Ave., which sits on 21 acres. Building features include a clear height of 36 feet, 40 exterior docks and 70 trailer parking spots. Drew Maffey and Rick Marchisio of Lee & Associates represented the tenant in the lease negotiations. Colliers represented the landlord, Bridge Development.
FAIRFIELD, N.J. — Locally based mortgage banking firm G.S. Wilcox & Co. has arranged a $15 million loan for the refinancing of Madison Corporate Campus, a 350,000-square-foot industrial flex property located in the Northern New Jersey community of Fairfield. David Fryer of G.S. Wilcox arranged the financing through Ohio National Life Insurance Co. The borrower was not disclosed.
KEARNY, N.J. — New York-based BEB Lending has provided a $5 million, 18-month bridge loan for the acquisition of an 87,000-square-foot industrial property in the Northern New Jersey community of Kearny. The building at 244 Duke St. sits on 2.4 acres. Sean Silverbrook led the transaction for BEB Lending, and Mark Brachfeld of Meridian Capital Group arranged the debt. The borrower was not disclosed.
PISCATAWAY, N.J. — BlackRock Realty Advisors has purchased 330 S. Randolphville Road, an approximately 300,000-square-foot industrial facility in the Northern New Jersey community of Piscataway, for $80 million. According to LoopNet Inc., the property was built on 7.9 acres in 1969, renovated in 2021 and features a clear height of 36 feet. At the time of sale, the facility was fully leased to General Plumbing Supply. Matthew Schnurr of Lee & Associates represented BlackRock Realty Advisors in the transaction. The seller was not disclosed.
WOODLAND PARK, N.J. — Amazon has signed a 205,000-square-foot industrial lease in the Northern New Jersey community of Woodland Park. The e-commerce giant will occupy the entirety of the facility at 1150 McBride Ave., which was developed by a partnership between two New Jersey-based firms, Kushner Real Estate Group and The STRO Cos. The property features a clear height of 36 feet, two drive-in doors, 20 loading docks and ample car and trailer parking. Jason Goldman and Andrew Siesman of KBC Advisors represented Amazon in the lease negotiations. Jack Shulman and Elliot Ferris represented the landlord on an internal basis.