WHITEHALL, PA. — Marcus & Millichap has completed the $13.21 million sale of a 14.28-acre, 20-year absolute triple-net ground lease in Whitehall. The parcel, which is located at 2650 MacArthur Rd., will house a 166,609-square-foot Lowe’s Home Improvement store. Brand Nathanson and Jordan Muchnick of Marcus & Millichap represented the seller and the buyer in the negotiations.
WHITEHALL, PA. — Marcus & Millichap has completed the $13.21 million sale of a 14.28-acre, 20-year absolute triple-net ground lease in Whitehall. The parcel, which is located at 2650 MacArthur Rd., will house a 166,609-square-foot Lowe’s Home Improvement store. Brand Nathanson and Jordan Muchnick of Marcus & Millichap represented the seller and the buyer in the negotiations.
RIDGEFIELD PARK, N.J. — Hartz Mountain has begun construction on the 140-room Hilton Garden Inn at Overpeck Centre in Ridgefield Park. The five-story hotel, located at 70 Challenger Rd., will feature a business center, a workout facility, and a restaurant and bar. Construction is set to be complete fall 2008. Overpeck Centre is a mixed-use development set on 60 acres along the waterfront. It contains more than 1 million square feet of office space and a 12-screen theater.
RIDGEFIELD PARK, N.J. — Hartz Mountain has begun construction on the 140-room Hilton Garden Inn at Overpeck Centre in Ridgefield Park. The five-story hotel, located at 70 Challenger Rd., will feature a business center, a workout facility, and a restaurant and bar. Construction is set to be complete fall 2008. Overpeck Centre is a mixed-use development set on 60 acres along the waterfront. It contains more than 1 million square feet of office space and a 12-screen theater.
HIGHLAND PARK, N.J. — Ken Uranowitz and Joseph Brecher of Gebroe-Hammer Associates have completed the $8.4 million sale of Parktowne House, an 84-unit apartment complex in Highland Park. The two-building, mid-rise facility is located at 11-19 Raritan Ave. on Route 27. The five- and six-story buildings contain 51 one-bedroom units, 12 two-bedroom units and 21 studio apartments. The facility was fully occupied at the time of the sale. Gebroe-Hammer represented the undisclosed seller and procured the buyer, an undisclosed Manhattan-based real estate investor.
HIGHLAND PARK, N.J. — Ken Uranowitz and Joseph Brecher of Gebroe-Hammer Associates have completed the $8.4 million sale of Parktowne House, an 84-unit apartment complex in Highland Park. The two-building, mid-rise facility is located at 11-19 Raritan Ave. on Route 27. The five- and six-story buildings contain 51 one-bedroom units, 12 two-bedroom units and 21 studio apartments. The facility was fully occupied at the time of the sale. Gebroe-Hammer represented the undisclosed seller and procured the buyer, an undisclosed Manhattan-based real estate investor.
DANBURY, CONN. — Optimum Hotel Brokerage has completed the sale of the Best Western Berkshire Inn in Danbury. The property features a 69-room hotel and two commercial office buildings. Situated along Interstate 84, the hotel was purchased for an undisclosed price by an undisclosed Fairfield County-based owner and operator. Joe McCann of Optimum Hotel Brokerage represented the undisclosed seller in the transaction.
DANBURY, CONN. — Optimum Hotel Brokerage has completed the sale of the Best Western Berkshire Inn in Danbury. The property features a 69-room hotel and two commercial office buildings. Situated along Interstate 84, the hotel was purchased for an undisclosed price by an undisclosed Fairfield County-based owner and operator. Joe McCann of Optimum Hotel Brokerage represented the undisclosed seller in the transaction.
HACKENSACK, N.J. — Normandy Real Estate Partners has completed the multi-million renovation of Continental Plaza, a Class A office complex in Hackensack. The three-building complex sits on 11.9 acres and features 650,000 square feet of space. The renovations included improvement to pedestrian bridges between the parking deck and buildings, renovations of ground-floor lobbies in all three buildings, refurbished elevators and an upgraded landscaping program. Amenities include an upgraded full-service cafeteria, a conference center, a tenant-only gym, a dry cleaning service and a newsstand. Newmark Knight Frank is the exclusive leasing agent for Continental Plaza.
HACKENSACK, N.J. — Normandy Real Estate Partners has completed the multi-million renovation of Continental Plaza, a Class A office complex in Hackensack. The three-building complex sits on 11.9 acres and features 650,000 square feet of space. The renovations included improvement to pedestrian bridges between the parking deck and buildings, renovations of ground-floor lobbies in all three buildings, refurbished elevators and an upgraded landscaping program. Amenities include an upgraded full-service cafeteria, a conference center, a tenant-only gym, a dry cleaning service and a newsstand. Newmark Knight Frank is the exclusive leasing agent for Continental Plaza.