Brookside Village at 28 Lake St. in Jamesburg — Courtesy: CBRE
By Joshua Burd
Two apartment complexes in Middlesex County have changed hands for a combined $11.3 million, under a set of newly announced transactions by CBRE.
The larger of the two, Brookside Village, is a newly built 42-unit property at 28 Lake St. in Jamesburg. The building traded for $8.1 million, offering amenities including a fitness center, storage units, an outdoor gazebo and ample parking.
The second deal involved the $3.2 million sale of Heritage at Piscataway, an income-restricted, 55-plus active adult community that consists of 30 one-bedroom apartments. The complex at 100 Begonia Court sold $3.2 million.
“Investors are drawn to Middlesex County apartments due to its increasing population and diverse and growing employment,” CBRE’s Nat Gambuzza said.
Gambuzza and CBRE’s Trevor Fiebel represented the sellers and procured the buyers in each transaction, working in collaboration with Jeffrey Dunne and Gene Pride of CBRE’s Stamford, Connecticut, office.
“As northern New Jersey becomes further saturated with investors, helping our clients find opportunities in other markets is paramount to their success,” Fiebel said. “We are thrilled to help our clients capitalize on the sales of their assets while also positioning buyers to make the most out of new opportunities.”