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CBRE’s Jeremy Wernick, Charles Berger and Elli Klapper brokered the sale.
A private investor purchased a 12-unit apartment building and a two-family house at 11 Elm St. in Montclair for $1.75 million. Marcus & Millichap’s Julienne Pape brokered the sale.
A private investor sold 43 Cottage St., an 11-unit apartment building in South Orange, for $3.075 million. Don Baxter, Scott Davidovic and Michael Kossak of The Kislak Co. Inc. represented the buyer.
RETAIL
WOW PLAZA III LLC sold 762 Route 18, a 25,000-square-foot health club building in East Brunswick, to KHC Development Inc. for $4.93 million. Mario Brunelli of R.J. Brunelli & Co. LLC and Ellen Quentzel of Jordan Baris Inc. Realtors represented the seller and buyer, respectively.
A private LLC sold Morganville Square, a 22,811-square-foot property at 479 Route 79 in the Morganville section of Marlboro, for $4.21 million. Alan Cafiero, Brent Hyldahl, Ben Sgambati and Seth Goldberg of Marcus & Millichap brokered the transaction.
A private investor sold Union Avenue Plaza, a 17,164-square-foot property at Route 36 and Union Avenue in Hazlet. Marcus & Millichap’s Jason Petrick represented both parties.
OAK GROVE ASSOCIATES leased a combined 14,430 square feet at the Inman Shopping Center at 1125 Inman Ave. in Edison to CSL Plasma, Dunkin and Ivy Rehab. The Goldstein Group’s Lew Finkelstein, CJ Huter, Chris Conway and Roy Paret represented the landlord. Warren Searles of Cushman & Wakefield represented CSL, a plasma donation center, while Corey Taber of Equity Real Estate represented Dunkin.
WALGREENS subleased 12,976 square feet at 3100 Bergenline Ave. in Union City to Everyday Savings. Steve Lorenzo of Lee & Associates NYC represented the tenant, a home goods retailer.
389 DOVER CHESTER LLC purchased 389 Dover Chester Road, a 14,000-square- foot property in Randolph, for $1.4 million. Cheryl Darmanin of Midtown Commercial Realty represented the seller.
DANIEL-10 ASSOCIATES sold 1751 Route 10, a 6,600-square-foot property in Morris Plains, to Be Real LLC. The
Goldstein Group’s Chuck Lanyard and Trevor Patterson of Newmark represented the seller and buyer, respectively.
PERFORMANCE STRENGTH ACADEMY
leased 3,362 square feet at Dover Park Plaza, a 57,700-square-foot property at 3 Sunnybrae Blvd.
in Hamilton. Peter Miller of R.J. Brunelli & Co. LLC represented both parties.
SNAP BACK BY HOOK & REEL leased 2,000 square feet at the Twin City Shopping Center, a 95,000-square- foot property on Garfield Avenue in Jersey City. E.J. Moawad of Levin Management Corp. represented the landlord.
RITA’S ICE leased 1,973 square feet
at ITC Crossing South Shopping Center, a 514,903-square-foot property at 30 International Drive South in the Flanders section of Mount Olive. Danielle Brunelli of R.J. Brunelli & Co. LLC represented ownership.
LARKEN ASSOCIATES leased 1,557 square feet at Amwell Mall, a 35,398-square-foot property at 450 Amwell Road in Hillsborough, to Speech Therapy Solutions.
PRISM CAPITAL PARTNERS leased
1,100 square feet at Avenue & Green, a mixed-use property at Rahway Avenue and Green Street in Woodbridge, to The UPS Store.
OPTIMUM leased 1,100 square feet at the Somerset Shopping Center, a 219,000-square-foot shopping center at Route 202/206 and Route 28 in Bridgewater. Vanessa Fernandez- Kelty of Levin Management Corp. represented ownership, while Jake Frantzman of Ripco Real Estate represented the tenant.
GO SOCCER leased an undisclosed amount of space at 309 Route 22 in Green Brook. Todd Gannet of the Boniakowski Commercial Real Estate Group represented both parties.
FINANCE
DEUTSCHE BANK provided a $210.7 million loan to Hana Financial Group Inc. to refinance 800 Scudders Mill Road, a 731,104-square-foot office campus in Plainsboro. Cushman & Wakefield’s John Alascio, Alexander
Hernandez, Alex Lapidus and Meredith Donovan represented the borrower, working with Andy Merin, David Bernhaut and Frank DiTommaso of C&W’s capital markets team.
ACORE CAPITAL LP closed a $113.5 million loan to SHIFT Capital, the Hanini Group and CoInvestment Partners in connection with their purchase of a portfolio that includes more than 816,000 square feet of office space at 707 Broad St. and 153 Halsey St. and 901 parking spaces at 261 University Place., all in Newark. JLL’s Michael Klein, Jon Mikula and Matthew Pizzolato worked alongside Progress Capital’s Brad Domenico to source the financing.
MONEY360 originated a $31.31 million loan to The Birch Group for its purchase of 4 Gatehall Drive, a 265,649-square-foot office building in Parsippany. Cushman & Wakefield’s John Alascio, Chuck Kohaut, TJ Sullivan and Meredith Donovan sourced the three-year loan.
An undisclosed life insurance company provided $16.9 million to First Montgomery Group to refinance The Courtyards, a 296-unit apartment complex at 200 Delanco Road in
REALESTATENJTM 15 Edgewater Park. Northmarq’s Gary
Cohen represented the borrower
in sourcing the loan, which was structured with a 15-year term with five years of interest only, followed by a 30-year amortization at a rate below 3 percent.
NATIONAL LIFE GROUP originated $10.5 million to refinance Brookplace Luxury Rentals, a 36-unit apartment
property at 74 Passaic Ave. in Fairfield. JLL’s Michael Klein,
Max Custer and Gerard Quinn represented the borrower, 74 Passaic Avenue LLC, in sourcing the 15-year, fixed-rate loan.
METROPOLITAN COMMERCIAL
BANK provided an $8.75 million acquisition loan to Wharton Industrial for a three-building, 128,561-square-foot light industrial portfolio at 65-67 and 77 Old Kings Hwy. in Maple Shade and 2091 Springdale Road in Cherry Hill. Michael Klein, Steven Klein, Michael Pagniucci and Ryan Carroll of JLL represented the borrower. RE
EXCLUSIVE PROPERTIES
FOR SALE
Belmar & Bradley Beach, NJ
127 Unit Portfolio
Daniel Lanni ext 248
Roselle, NJ
17 Units
Jeff Squires ext 246
Newark, NJ
11 Units + Retail
Michael Salomon ext 243
Jersey City, NJ
21 Units
Davis Briones ext 370
Pequannock, NJ
14 Units + 8,050 SF Retail
Daniel Lanni ext 248
Guttenberg, NJ
9 Units + 1,200 SF Retail
Tom Scatuorchio ext 255 Michael Salomon ext 243
Elizabeth, NJ
19 Units + 1 Commercial
Joni Sweetwood ext 273
Paterson, NJ
14 Units
Robert Squires ext 287
Hamilton, NJ
Alan Sommer Storozum ext 236
The Kislak Company, Inc. | kislakrealty.com | 732 750 3000
