TETERBORO, N.J. — JLL has arranged a $39 million acquisition loan for a 221,448-square-foot warehouse and distribution center in the Northern New Jersey community of Teterboro. Building features include a clear height of 22 feet, 15 dock-high doors, 11 drive-in doors, 95 parking spaces and 15 trailer parking spaces. Michael Klein, John Rose, Jon Mikula and Ryan Carroll of JLL arranged the fixed-rate loan through insurance giant Nationwide on behalf of the borrower, a joint venture between local developer The Hampshire Cos. and Atlanta-based Invesco Real Estate. The property was fully leased to Fashion Logistics at the time of sale.
PLAINFIELD, N.J. — Locally based developer Paramount Assets has opened Netherwood Flats, a 70-unit apartment complex in the Northern New Jersey community of Plainfield. The four-story building features 4,000 square feet of retail space and an 84-space parking deck. Units come in one- and two-bedroom formats and range in size from 624 to 1,427 square feet. Amenities include a fitness center, resident lounge and an elevated courtyard. Netherwood Flats opened with 50 percent of its units preleased. Rents start at $1,865 per month for a one-bedroom apartment.
SUMMIT, N.J. — Excell Communications, a provider of network infrastructure for the wireless, fiber and utility industries, has signed a 7,000-square-foot office lease in the Northern New Jersey community of Summit. The two-story building at 44 Middle Ave. is located directly off Route 24 and includes 29 parking spaces. Thomas Ryan of NAI James E. Hanson represented the landlord in the lease negotiations. The representative of the tenant was not disclosed.
PRINCETON, N.J. — A joint venture between Mountain Development Corp. and Gottesman Real Estate Partners will develop a 38,000-square-foot life sciences project within the Roszel Square campus in Princeton. Building features will include lab-level HVAC systems, a 16-foot clear height, freight elevator, loading dock and a backup generator. The joint venture will market the two-story facility as a build-to-suit. Princeton Property Partners has been appointed as leasing agent.
UNION, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged a $90 million permanent loan for Sol at Vermella Union, a 309-unit apartment community in Northern New Jersey. The property, which is part of the larger Vermella Union mixed-use development, offers studio, one-, two- and three-bedroom units. Amenities include a pool, fitness center, children’s play area, outdoor grilling and dining stations and a rooftop terrace. Gretchen Wilcox and David Fryer of G.S. Wilcox arranged the seven-year loan through an undisclosed direct lender on behalf of the borrower, Russo Development.
LINDEN, N.J. — CODA Logistics & Distribution, a third-party provider of freight services, has signed a 321,765-square-foot industrial lease in the Northern New Jersey of Linden. The company will occupy the entirety of CenterPoint at Linden, a speculative development by Chicago-based CenterPoint Properties that is slated for an August completion. Building features include a clear height of 40 feet, 62 loading doors and parking for 89 trailers and 240 cars. Michael Kimmel of KBC Advisors represented CODA Logistics & Distribution in the lease negotiations.
BAYONNE, N.J. — Locally based development and investment firm Delta Equity Management has refinanced Harborview Logistics & Distribution Center, a 195,723-square-foot industrial property located in the Northern New Jersey community of Bayonne. The property features a clear height of 40 feet, 46 loading doors, 32 trailer parking spaces and 149 car parking spaces. Jon Mikula and Michael Lachs of JLL arranged the fixed-rate loan through Lincoln Financial Group. At the time of the loan closing, Harborview Logistics & Distribution Center was fully leased to an affiliate of The Home Depot.
HACKENSACK, N.J. — Law firm Newman, Simpson & Cohen LLP has signed a 5,909-square-foot office lease at Court North Plaza in the Northern New Jersey community of Hackensack. The three-building, 335,000-square-foot complex offers a fitness center, conference room and a cafeteria, as well as an onsite bank, dry cleaner and car detailing service. Stephen Jennings internally represented the landlord, Alfred Sanzari Enterprises, in the lease negotiations. Josh Folco, formerly of Alexander Anderson Real Estate Group, represented the tenant.
PRINCETON, N.J. — Rhode Island-based Gilbane Development Co. has sold Crossroads Corporate Center, a 100,925-square-foot office building in Princeton. The three-story building was constructed on 45 acres in 1991 and has been renovated multiple times over the ensuing years. Jeremy Neuer, Jose Cruz, Kevin O’Hearn, Thomas Romano, J.B. Bruno and Jason Lundy of JLL represented Gilbane in the transaction. A joint venture led by Simone Realty purchased Crossroads Corporate Center for an undisclosed price.
WASHINGTON TOWNSHIP, N.J. — Avison Young has arranged the $14 million sale of a 70,140-square-foot medical office building located in the Southern New Jersey community of Washington Township. The two-story building sits directly across from the Jefferson Hospital Washington Township campus. Gordon MAB Associates sold the building to New Jersey-based Atkins Cos., which plans to implement a capital improvement program. Scott Martin, Jim Kornick, Michael Wilson and Erik Foster of Avison Young represented both parties in the transaction.