Page 14 - RENJ June 2021

12 JUNE 2021
DEAL SHEET
INDUSTRIAL
J.P. MORGAN GLOBAL ALTERNATIVES
and TURNBRIDGE EQUITIES secured a recapitalization for the Ballantine Industrial Center, an 807,845-square- foot complex at 397-447 Ferry St.,
400 Ferry St. and 100 Christie St. in Newark, from Long Wharf Capital LLC. Cushman & Wakefield’s Gary Gabriel, Kevin Donner, Adam Doneger, David Bernhaut, Kyle Schmidt and Ryan Larkin represented ownership, with support from leasing specialist Tom Tucci.
A private partnership acquired 607 Industrial Way, a 54,000-square-foot building in Eatontown, for $5.85 million. Resource Realty’s Andy Rudoff represented the seller.
AMERICAN EXPRESS sold 2 Corporate Place, a 44,362-square-foot building in Piscataway, to Simex for $5.55 million. JLL represented the seller, while Leo Esses and Ilan Tabbouche represented the buyer.
ALFRED SANZARI ENTERPRISES leased 41,256 square feet at 18 Central Blvd. in South Hackensack to ePost Global Inc. Jason Fisch of F. Greek
Development Inc. represented the tenant, a delivery and logistics company.
PJ WAREHOUSE INC. leased 38,537 square feet at 815 Fairview Ave. in Fairview. Eric Lewin and Jeff Volpi of Team Resources Inc. represented the landlord, while Scott Peck of Resource Realty represented the tenant, a furniture wholesaler.
An electronics reseller purchased 37,000 square feet at 265 Industrial
Way, a 125,000-square-foot commercial condominium in Eatontown, for $4.1 million. Resource Realty’s Andy Rudoff brokered the transaction.
FREIGHT CONNECTIONS INC. leased 30,000 square feet at 686 Grand Ave. in Ridgefield. Eric Lewin and Joseph Manganaro of Team Resources Inc. brokered the transaction.
The Dadlani family acquired 216-218
West Groveland Ave., a 12,000-square- foot warehouse in Somers Point, for $830,000. Vantage Commercial’s Ken Richardson represented both parties.
12 SULLIVAN STREET LLC sold 12 Sullivan St., an 11,360-square-foot building
in Westwood, to James Bogush. NAI James E. Hanson’s Andrew Somple and John Schilp represented the seller.
MFB-ONE LP sold 127 Red Lion Road, an 8,651-square-foot flex building
in Southampton, to Ridgeline Properties. Ryan Barikian of Wolf Commercial Real Estate represented the seller.
TERMINUS OCCIDENTALIS sold 2157 Route 31, a 4.66-acre property in Glen Gardner, to Nicholas DelGuidice for $1.21 million. David Chippendale of Weichert Commercial Brokerage and James Costanzo of Charity Realty International represented the seller and buyer, respectively.
An undisclosed buyer purchased a three-acre industrial parcel along Paterson Plank Road and just east of Route 17 in Carlstadt. JLL’s Jose Cruz, Jordan Avanzato, Marc Duval and Nick Stefans represented the seller.
OFFICE
P3 PROPERTIES, IMAGE CAPITAL LLC and LIONSTONE CAPITAL sold a
majority interest in MCC BLUE, a 541,035-square-foot complex at 400 Interpace Parkway in Parsippany. CBRE’s Jeff Dunne, Jeremy Neuer, Steve Bardsley, Gene Pride, David Gavin, Travis Langer and Zach McHale advised the sellers.
SHREE PARSIPPANY DEVELOPERS LLC
acquired 1259-1269 Route 46, a four- building, 126,000-square-foot complex
in Parsippany, for $10.5 million. Tom Scatuorchio of The Kislak Co. Inc. represented the seller.
MACK-CALI REALTY CORP. leased 32,000 square feet at 101 Hudson St., a 1.25 million-square-foot building in Jersey City, to Apprentice.io. Cushman
& Wakefield’s David DeMatteis
and Mina Shehata represented the tenant, a leader in intelligent life science manufacturing technology, in conjunction with Jeff Kaplowitz of Liberty Realty.
ACCORDIA REALTY VENTURES leased 25,000 square feet at River Drive I,
a 114,825-square-foot property at
619 River Drive in Elmwood Park,
to BioReference Laboratories Inc., while also securing a 6,000-square- foot commitment at the building from John Onal & Associates.
JAMAG INC. sold 1750 Zion Road,
a 21,440-square-foot complex in Northfield, to BB Capital LLC for $1.35 million. CBRE’s Bill Tourtellotte represented the seller.
An affiliate of GOTTESMAN REAL ESTATE PARTNERS and MOUNTAIN DEVELOPMENT CORP. leased 9,470 square feet at
21 Roszel Road, a 62,500-square-
foot building in West Windsor, to Princeton Insurance Co. Sab Russo
of Mercer Oak Realty represented ownership, while Tom Romano of JLL represented the tenant.
500 N FRANKLIN LLC leased 7,112 square feet at 500 North Franklin Turnpike, a 141,000-square-foot building in Ramsey, to Skin & Laser Center of NJ. JLL’s Derek DeMartino represented ownership, while NAI James E. Hanson’s Darren Lizzack and Randy Horning represented the tenant.
ADVANCED ACCELERATOR APPLICATIONS
purchased 45 East Willow St., a 5,000-square-foot flex building in Millburn. Barbara Gross and Bob Nathin of Sheldon Gross Realty brokered the deal.
DUKE, CLOTHING IMPORTER INK 207,000 SQ. FT. INDUSTRIAL DEAL
Duke Realty Corp. has signed a new industrial lease in South Brunswick, securing a commitment
for more than 200,000 square feet from an apparel importer.
The real estate investment trust said the tenant, Vandale Industries Inc., will occupy 207,021 square feet at 773 Cranbury South River Road. The 488,884-square-foot property, located near the New Jersey Turnpike, will remain fully leased as
a result of the long-term deal.
Cushman & Wakefield’s Michael Kimmel, Jason Goldman, Marc Petrella and Andrew Siemsen represented Duke Realty, while C&W’s Chuck Fern and Jason Barton represented the tenant.
“Over the past year, the nation’s supply chain has been tested and Duke Realty clients continue to look for opportunities to strengthen their logistics networks,” said Ben Rosen, vice president of leasing and development for Duke Realty in New Jersey. “They want locations where they can get their products
to customers with limited delay. 773 Cranbury South River Road is a modern facility located within central New Jersey’s premiere industrial submarket that enables Vandale to effectively serve its major U.S. retailer clients.”
In a news release, Duke Realty noted that Vandale imports intimate apparel and foundations, including daywear, sleepwear, active wear and shapewear. The company manages private-label and national brands in every distribution channel and is a key supplier to major retailers across the country.
“We do not see the demand for well-located, high-quality logistics space waning anytime soon, given the growth of the e-commerce industry,” said Art Makris, senior vice president of Duke Realty’s Northeast region. “We count on our local broker partners to share insights into tenant needs and together we can quickly identify investment opportunities that meet those needs further expanding our New Jersey portfolio.”
773 Cranbury South River Road in South Brunswick
Courtesy: Duke Realty Corp.