Page 10 - RENJ_April2021

8 APRIL 2021
DEAL SHEET
INDUSTRIAL
BRIDGE DEVELOPMENT PARTNERS leased 308,500 square feet at 101 Randolph Road in the Somerset section
of Franklin to PIM Brands. JLL represented ownership, while Sheldon Gross Realty’s Bob Nathin and
Chuck Fern of Cushman & Wakefield represented the tenant, a unit of snack maker Promotion In Motion Inc.
SEYON GROUP and WHEELOCK STREET CAPITAL sold 1000 Jefferson Ave.,
a 207,000-square-foot building in Elizabeth, to Elion Partners for $29.7 million. Kassin Sabbagh Realty’s Bunny Escava and Isaac Setton represented both parties.
LACKAWANNA ASSOCIATES LLC sold Lackawanna Business Park, a 140,548-square-foot industrial park at 86 Lackawanna Ave. in Woodland Park, to Lackawanna Woodland LLC for $10.2 million. Cushman
& Wakefield’s Andrew Schwartz, David Bernhaut, Gary Gabriel, Kyle Schmidt, Frank DiTommaso and Jordan Sobel represented the seller.
VENTURE ONE REAL ESTATE INC. leased 107,107 square feet at 116 Lehigh Drive in Fairfield to Ingram Micro Inc. CBRE’s Thomas Mallaney, Nicholas Nitti, Denise Kokulak and David Remington represented the tenant, a global IT services company.
BLACK CREEK GROUP leased 100,170 square feet at 320 Dultys Lane, a 208,290-square-foot building in Burlington, to EBP Supply Solutions. Scott Mertz of NAI Mertz represented ownership.
DEPENDABLE DISTRIBUTION leased 71,445 square feet at 1120 Ferry Ave. in Camden. Ian Richman of Colliers International represented
the landlord, while Marc Isdaner and Richard Gorodesky represented the tenant, a cocoa bean distributor.
FAROPOINT acquired 103-105 West Park Drive, a 61,000-square-foot industrial building in Mount Laurel. Jonathan Klear, Fred Meyer, Roy Kardon, Jeff Licht and Jared Licht of NAI Mertz represented the buyer.
ALL SEASONS FOODS INC. subleased 49,464 square feet at 8 Corporate Place, a 143,000-square-foot building in Piscataway, to Smart Pony Inc. David Blitt and Eli Harari of Bussel Realty Corp. and Cushman & Wakefield represented the respective parties.
PALUMBO REALTY LLC sold 27 Ridge Road, a 44,300-square-foot property in the Whitehouse Station section of
Readington, to 27 Ridge Road LLC for $3.9 million. Peter Wisniewski of The Kislak Co. Inc. represented the seller.
DIVERSIFIED PROPERTIES and THE HAMPSHIRE COS. acquired 72 North Washington Ave., a 40,000-square- foot industrial building, and an adjacent multifamily property at 21 West Church St., both in Bergenfield. Greg Sabato and Tom Consiglio of Resource Realty of Northern New Jersey represented the seller.
GOTHAM CLEANERS INC. leased 28,000 square feet at 200 Clifton Blvd. in Clifton. Jeff Volpi, Eric Lewin, David Knapel and Stacey Wellins of Team Resources Inc. represented both parties.
FOLMAN CO. leased 27,500 square feet at 550 Huyler St. in South Hackensack to Parts Authority. NAI James E. Hanson’s Tom Vetter, Jeffrey DeMagistris, Scott Perkins and Christopher Todd represented ownership.
GNEISS LLC leased 25,000 square
feet at 450 Barell Ave. in Carlstadt. NAI James E. Hanson represented ownership, while Alex Rosenberg of Team Resources Inc. represented the tenant, an apparel supply company operating as Rebel Minds.
LARKEN ASSOCIATES leased 22,500 square feet at the Hillsborough Business Center, a 550,000-square- foot, 27-building industrial and
flex complex on Stryker Lane in Hillsborough, to II-VI Inc. Newmark’s Dan Reider, Garrison Efird and Adam Faulk represented the tenant, a
maker of engineered materials and optoelectronic components.
POMARCO TECHNOLOGIES LLC sold 218-224 11th Ave., a two-building, 20,000-square-foot portfolio in Roselle. Jordan Metz and Eric Koons of Bussel Realty Corp. brokered the deal.
VELOCITY VENTURE PARTNERS acquired 443 Commerce Lane, a 16,000-square- foot warehouse in West Berlin.
Ian Richman and Marc Isdaner of Colliers International brokered the transaction.
An undisclosed buyer acquired 338-340 13th St., a 15,480-square- foot building in Carlstadt, for
$2.65 million. Maggie Abdo-Manno represented the seller, while Steven N. Muller of Equity Real Estate Brokerage represented the buyer.
HYRC LLC leased 3,000 square feet at
14 Spielman Road, a 14,800-square- foot facility in Fairfield, to GenServe LLC. Scott Deutchman and Troy Wisse of Lee & Associates New Jersey represented both parties.
OFFICE
NATIONAL BUSINESS PARKS leased 48,000 square feet at 305 College Road
East, part of the College Park at Princeton Forrestal Center campus
in Plainsboro, to CytoSorbents Corp. Avison Young’s Thomas Giannone, Ronald Ganter, Edward English and Paul Errigo III represented the tenant, a medical device maker, with support from Tracey Kasper.
A local investor sold 570 Egg Harbor Road, a 15,000-square-foot medical office condominium in the Sewell section of Mantua Township, for $3.75 million. Avison Young’s Scott Martin brokered the transaction.
RUTGERS UNIVERSITY leased 14,530 square feet at Metroplex Corporate Center, a 265,000-square-foot complex in Edison. Robert Dinner of NAI DiLeo-Bram & Co. represented ownership.
EDEN WOOD REALTY leased 12,828 square feet at 1 Cross Roads Drive, part of the two-building, 136,000-square-foot Eden Wood Realty Crossroads Business Center in Bedminster, to Tessa Therapeutics. JLL’s Susan Mason and Robert Ryan represented ownership, while Avison Young’s Tom Giannone and Ron Ganter represented the
SPONGE MAKER BUYS PENNSAUKEN BUILDING IN MOVE TO NEW JERSEY
Asponge maker of “Shark Tank” fame is moving its business from Pennsylvania after buying a newly upgraded industrial building in South Jersey, in a deal arranged by NAI Mertz.
The brokerage firm said Scrub
1700 Suckle Highway in Pennsauken
Daddy, which appeared on the ABC reality show in 2012, paid $10.7 million for the 116,284-square-foot complex at 1700 Suckle Highway in Pennsauken. With its signature smiley-face sponges, the company is relocating its operations and employees from three separate sites in Pennsylvania, following strong growth after its appearance on the show and the heightened demand for cleaning products
during the pandemic.
NAI Mertz President Scott Mertz represented the seller, Seyon Group, in the transaction.
“It’s been a pleasure seeing the improvements that Seyon has made to this facility pay off in attracting
a nationally prominent tenant,” said Mertz, who represented
the company in its purchase of 1700 Suckle Highway in 2019.
“The location will be a perfect headquarters for Scrub Daddy to continue its impressive growth.”
Located along Route 130 and five minutes from Philadelphia, 1700 Suckle Highway sits on 7.69 acres, NAI Mertz said. The property has parking for both employee vehicles and trailers, 17-foot clear ceiling heights and both tailgate and drive- in loading.
Courtesy: NAI Mertz