Page 11 - RE-NJ May 2020
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FIRST NATIONAL REALTY PARTNERS
acquired The Coastal Building, a 29,178-square-foot complex at 151 Bodman Place in Red Bank.
SARTAK HOLDINGS INC. signed a 12,015-square-foot renewal at One Maynard Drive, a 139,000-square-foot building in Park Ridge, with Amica Mutual Insurance Co. Andrew Somple, Justin Allessio and Judy Troiano of NAI James E. Hanson represented ownership.
An endodontics practice sold 22 Route 10, a 10,000-square-foot office and medical building in the Succasunna section of Roxbury. Brian Wilson of Resource Realty of Northern New Jersey represented both parties.
HUTCHINSON ENGINEERING LLC sold 116 North Haddon Ave., a 6,400-square- foot mixed-use property in Haddonfield, to Haddon Equities LLC for $750,000. Kevin Burns of Markeim Chalmers Inc. represented the seller.
CANAL POINTE LLC leased 5,396 square feet at 100 Canal Pointe Blvd.,
a building within the Princeton MarketFair complex in West Windsor, to Keller Williams Princeton. Kevin Coleman of Wolf Commercial Real Estate represented the tenant, a real estate brokerage.
500 GROVE ASSOCIATES LLC leased 5,214 square feet at 500 Grove St. in Haddon Heights, to Premier Dermatology. Ryan Barikian and Mike Scanzano of Wolf Commercial Real Estate represented the landlord and tenant, respectively.
NEEDLEMAN MANAGEMENT CO. leased 2,500 square feet at 1060 Kings Highway in Cherry Hill to Nation Mac Mortgage. Emily Stein and Ken Richardson of Vantage Real Estate Services represented the tenant, a mortgage company.
EASTMAN MANAGEMENT signed a 1,880-square-foot renewal at 354 Eisenhower Pkwy., a 157,500-square-
foot complex in Livingston, with The Durkin Firm. NAI James E. Hanson’s Josh Levering represented the tenant, a law firm.
STONEGATE REALTY leased 1,273 square feet at 23-00 Route 208, a 28,000-square-foot building in Fair Lawn, to Jyoti Sadhana Center. NAI James E. Hanson’s Randy Horning and Darren Lizzack represented ownership.
RESIDENTIAL
A private investor sold a four- building, 56-unit portfolio in Newark — including 981-983 18th Ave., 611 Clinton Ave., 969-971 18th Ave. and 550 Springfield Ave. — for $7.9 million. Michael Salomon of The Kislak Co. Inc. represented the seller.
A private investor sold 492 Broadway, a 6,900-square-foot mixed-use building in Bayonne, for $2.05 million. Marcus & Millichap’s Fahri Ozturk and Richard D. Gatto brokered the transaction, while the firm’s Joseph Belgiovine provided financing for the building.
RETAIL
MCB and UNITED HAMPSHIRE US REIT acquired Lawnside Commons, a 151,000-square-foot shopping center at 310 White Horse Pike in Lawnside, for
$31.55 million. Cushman & Wakefield’s Brian Whitmer, Andrew Merin, David Bernhaut, Gary Gabriel, Kyle Schmidt and Max Helfman, along with Karen Iman and Keith Braccia of the firm’s Philadelphia office, represented the seller.
A private investor sold 1-21 Franklin Turnpike, a 26,777-square-foot shopping center in Mahwah, for $10.612 million. Marcus & Millichap’s
Alan Cafiero, Ben Sgambati, David Cafiero and John Moroz represented the seller, while the firm’s Scott Geller procured the buyer.
JERSEY STRONG leased 25,067
square feet at Dover Park Plaza,
a 56,000-square-foot property at Sunnybrae Boulevard and South Broad Street in the Yardville section of Hamilton. Danielle Brunelli and Peter Miller of R.J. Brunelli & Co. LLC represented ownership, while the firm’s Robert Kwiatkowski represented the tenant.
ABRAMSON-OBAL LLC sold 405 North Midland Ave., a 13,000-square-foot former restaurant building in Saddle Brook, to Greater Bergen Realtors. The Goldstein Group’s Chuck Lanyard and Alex Goldstein represented
the seller, while Gilsenan & Co. represented the buyer.
MERRY HEART ASSISTED LIVING acquired 970 Route 46, an 8,500-square-foot building in the Succasunna section of Roxbury. Brian Wilson and Scott Peck of Resource Realty of Northern New Jersey represented both parties.
CLINTON REALTY leased 4,850 square feet at 36A Midland Ave. in Paramus to The Vineyard School. Josh Krantz of Lee
& Associates New Jersey represented the tenant, a Christian preschool.
FASHIONS BY PENINA sold 11 East Main St., a 3,622-square-foot property in the Marlton section of Evesham, to Misha of Siberia Furs for $312,500. Adam Rose of Rose Commercial Real Estate brokered the transaction.
KUSHNER REAL ESTATE GROUP and IRONSTATE DEVELOPMENT CO. leased 1,750 square feet at 235 Grand, a luxury apartment building in Jersey City,
to Cavany Foods. Grid Real Estate brokered the transaction.
GARDEN STATE REHAB leased 1,650 square feet at 239 Bergen Blvd. in Fairview. Josh Krantz and Kyle Janoczkin of Lee
REALESTATENJTM 9 & Associates New Jersey represented
the tenant, an after-school therapy program for kids.
BKPF MANAGEMENT / 5877 CORP sold
a Burger King location at 9105 Bergenline Ave. in North Bergen to Devs Foods 2 LLC. The Goldstein Group’s Chris Conway and Patrick Brake represented both parties. Conway, along with Tyler Geuder,
also represented L.B. Holdings Inc. in its acquisition of 6 Industrial Road, a 2.68-acre land parcel in Mahwah, while Realty Associates Acquisition Group represented the seller.
HOSPITALITY
CAESARS ENTERTAINMENT CORP. and VICI Properties Inc. agreed to sell Bally’s Atlantic City Hotel & Casino, located at 1900 Boardwalk in Atlantic City, to Twin River Worldwide Holdings Inc. for $25 million.
FINANCE
BRIDGE INVESTMENT GROUP closed a $59.975 million acquisition bridge loan to P3 Properties for its purchase
of Morris Corporate Center 1 and
2, a two-building, 550,000-square-
foot office complex at 300 Interpace Parkway and 1 Upper Pond Road in Parsippany. JLL’s Greg Nalbandian and Andrew Zilenziger sourced the four- year, floating-rate financing on behalf of the borrower.
PRINCIPAL FINANCIAL GROUP provided $11 million to refinance Station Square, a newly completed, 35-unit apartment building at 1 2nd St. in Fanwood. Mark Scott of Commercial Mortgage Capital represented the borrower in securing the 10-year, fixed-rate loan. RE
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JIM MCGUCKIN l REGIONAL MANAGER l 250 PEHLE AVE #501, SADDLE BROOK, NJ 07663 l PHONE: (201) 742-6150
Real Estate Investment Sales » Financing » Research » Advisory Services
