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City, to RWJBarnabas Health and Jersey City Medical Center. JLL’s Dan Loughlin, Dan Spero, Bob Ryan, Craig Eisenhardt, Blake Goodman and John Cahill represented ownership.
NEXUS PROPERTIES leased a combined 9,550 square feet at Princeton Plaza, a 175,000-square-foot complex at 731 Alexander Road in West Windsor, to LS Solutions, Techfields Pharma and Princeton Lifestyle Medicine. NAI Fennelly’s Jerry Fennelly represented the owner.
SOLTAGE leased 9,065 square feet at
333 Washington St., a 51,307-square- foot property in Jersey City. David DeMatteis and Mina Shehata of Cushman & Wakefield represented the tenant, a solar energy company.
NORTHEAST CAPITAL GROUP leased
7,300 square feet at The Offices
at Bedminster, a 194,000-square-
foot complex at 500 and 550
Hills Drive in Bedminster, to
Alembic Pharmaceuticals. Colliers International’s Sam Horowitz, Chris Hovanec, Jack Callahan and Ray Iodice represented ownership.
THE KABR GROUP and KUSHNER COS. leased a combined 3,244 square feet at 26 Journal Square, a 111,640-square-foot building in Jersey City, to LabCorp and Ocean Audiology.
ALFRED SANZARI ENTERPRISES leased 3,108 square feet at Heights Plaza, a 200,000-square-foot property at 777 Terrace Ave. in Hasbrouck Heights, to Bruno, Gerbino, Soriano and Aitken LLP. John C. Giordano of Avison Young represented the tenant.
LANDZETTEL REALTY CO. leased 1,505 square feet at 17-10 River Road, a 25,600-square-foot building in Fair Lawn, to Five Star Towing. NAI James E. Hanson’s Darren Lizzack, Randy Horning and David M. Ukleja represented the tenant.
LARKEN ASSOCIATES leased 1,300
square feet at Campus View Plaza, a 33,430-square-foot building at 1250 Route 28 in Branchburg, to Leigh Bureau. Timothy Deluccia of Berkshire Hathaway/The Deluccia Commercial Group represented the landlord.
RESIDENTIAL
MESIROW INSTITUTIONAL REAL ESTATE DIRECT INVESTMENTS sold The Union
at Lyndhurst, a 328-unit apartment complex at 1301 Wall Street West in Lyndhurst, to Pacific Urban Investors. JLL’s Jose Cruz, Michael Oliver, JB Bruno, Kevin O’Hearn and Steve Simonelli represented the seller.
BERKSHIRE RESIDENTIAL INVESTMENTS
sold Berkshire Stewards Crossing, a 240-unit apartment property at 1000 Stewards Crossing Way in Lawrence Township. Michael Oliver, Jose Cruz,
Steve Simonelli, Kevin O’Hearn and Grace Braverman of JLL represented the seller.
ORCHARD COURT ASSOCIATES sold Orchard Court Apartments, a 156-unit property
at 1000 Carroll Ave. in Pennsville, to Orchard Court Apartments LLC for $16 million. Jason Pucci and Justin Lupo of The Kislak Co. Inc. represented
the seller, an affiliate of The Kamson Corp., while Kislak’s Barry Waisbrod represented the buyer.
F&C REALTY CO. LLC sold 255 and 284 Prospect St., an 88-unit apartment portfolio in East Orange, for $11.75 million. David Oropeza and Debbie Pomerantz of Gebroe-Hammer Associates represented the seller.
A private investor sold a 65-unit apartment portfolio at 111 and 117
ROCKEFELLER INKS SALE OF NEW 400,000 SQ. FT. LOGISTICS CENTER
Rockefeller Group has sold a newly built, 400,000-square- foot industrial property just north
of Piscataway, in a transaction arranged by Cushman & Wakefield.
The fully leased building, located
at 65 Baekeland Ave. in Middlesex Borough, changed hands less than two months after being delivered by the developer’s Morristown-based New Jersey team. The buyer, a fund sponsored by CBRE Investment Management, paid an undisclosed price for the asset.
“We’re happy to have worked
with Cushman & Wakefield and CBRE Investment Management
on the sale of Middlesex Logistic Center,” said Mark Shearer,
senior managing director for Rockefeller Group’s New Jersey and Pennsylvania region. “This premier last-mile facility fits well with
CBRE Investment Management’s investment strategy as they continue to acquire Class A industrial properties throughout the United
States.”
C&W’s Gary Gabriel, Kyle Schmidt, David Bernhaut and Ryan Larkin, working in coordination with leasing specialists Jules Nissim
and Kimberly Bach, represented Rockefeller Group in the sale. They noted that the property has 36-foot clear ceiling heights, 38 loading positions, parking for 334 cars and 281 vans and a 130-foot truck court.
It’s also just north of Rockefeller’s recently developed, 2.1 million- square-foot logistics campus in Piscataway.
“We’re very pleased to have the opportunity to acquire such strategic new development in one of the most premier, in-fill logistics markets
in the country,” said Mary Lang, head of Americas direct logistics strategies and portfolio manager for
CBRE Investment Management. “In Middlesex, Rockefeller Group has built a best-in-class fulfillment center that will help serve the delivery needs for the surrounding high- density consumer population.”
The 30.3-acre site is just off Exit 9 of Interstate 287, some 10 minutes from the New Jersey Turnpike
and Route 1. C&W added that the property is within a 90-minute drive of 21 million people.
“We received significant interest
in this asset, which is no surprise considering it’s newly constructed and fully preleased prior to vertical construction to a long-term e-commerce credit tenant,” Gabriel said. “Additionally, the asset is conveniently located along the I-287 corridor, one of New Jersey’s best- performing submarkets.”
Middlesex Logistic Center at 65 Baekeland Ave. in Middlesex Borough
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CLOSED
NJ $
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
Courtesy: C&W
