Page 14 - RE-NJ
P. 14

12 JANUARY 2023
million. Cushman & Wakefield’s Andy
Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso and Seth Zuidema represented the seller.
DENHOLTZ PROPERTIES sold 150 Morristown Road, a 54,845-square- foot building in Bernardsville, to 150 Morristown Road LLC. Cushman & Wakefield’s David Bernhaut, Andy Schwartz, Jordan Sobel and Andre Balthazard represented the seller and procured the buyer.
leased a combined 30,407 square feet at Bell Works, a 2 million-square-foot property at 101 Crawfords Corner Road in Holmdel, to HBK and CDW. The Garibaldi Group’s Jeff Garibaldi, Tara Keating and Lindsey Florio represented ownership.
THETA HOLDING CO. LP leased 26,117 square feet at Overlook Corporate Center, a 415,000-square-foot complex at 150 Clove Road in Little Falls, to PNC Bank. JLL’s Frank D. Recine, Derek DeMartino and Nicolas DeCotiis represented ownership, while Newmark’s David Simson,
Jeff Schotz and Peter Kasparian represented the tenant.
An affiliate of SAXUM REAL ESTATE sold The Vault, a 24,032-square foot property at 55 Broad St. in Red Bank,
for $10.7 million. Alan Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap represented the seller.
THE BIRCH GROUP leased 6,608 square feet at Nexus 17, a 260,832-square-
foot building at 15 East Midland Ave. in Paramus, to Dunn Lambert LLC. David DeMatteis, Benjamin Brenner and Mark Zazisk of Cushman & Wakefield represented ownership, while CBRE’s Sean Morley represented the tenant.
AMERICAN EQUITY PARTNERS leased 6,402 square feet at 10 Independence Blvd., a 120,528-square-foot property in Warren, to Amici Clinical Research. JLL’s Bob Ryan and TJ Romano represented ownership, while Larry Dickstein of Dickstein Real Estate Services represented the tenant.
leased 5,465 square feet at Somerset Commons, a 100,000-square-foot building at 46 East Main St. in Somerville, to Merit SI Technologies LLC. Tim Deluccia of Deluccia Commercial Group represented both parties.
RICHARD READING sold 759 Route 206, a 5,000-square-foot building in Princeton, to Redding’s Plumbing and Heating for $1.5 million. Al Toto of Commercial Property Network Inc. represented both parties, while Cascade Capital Advisors LLC assisted in securing financing.
A family ownership group sold a 120- unit apartment portfolio at 435 West End Ave., 1247 Clinton Place, 233-241 West Grand St. and 129 West Grand St., all in Elizabeth, and 1500 Liberty Ave. in Hillside for $15 million.
Jeff Squires of The Kislak Co. Inc. represented the seller and procured the buyer.
METROPOLITAN AMERICA sold Colonial Gardens, a 97-unit complex at 455 West State St., and Grand Court Villas, a 63-unit property at 507 Grand St., both in Trenton, to separate buyers for a combined $20.5 million. CBRE’s Rich Gatto, Fahri Ozturk and Zach McHale represented the seller
in the transactions and procured the buyers.
GRJ and CASTELLAN REAL ESTATE PARTNERS sold Royal Pines at Marlboro, an 89-unit, age-restricted apartment complex at 362 Route
9 in Englishtown, to F.M. Ferrari
Investments for $29.9 million. JLL’s Michael Oliver, Jose Cruz, J.B. Bruno, Steve Simonelli and Michael Zlotnick represented the seller.
A private investor purchased Riverside Garden Apartments, a 46-unit complex at 12 Riverside Drive in Cranford, for $14.65 million. Adam Zweibel and Jeffrey Otteau of Hudson Atlantic Realty brokered the transaction.
GMX LLC sold 40-44 Fourth Street Apartments, a 33-unit apartment building at 40-44 4th St. in Passaic, for $5.35 million. Gebroe-Hammer Associates’ Debbie Pomerantz represented the seller.
JACKSON STREET LLC, FKJ REALTY HOLDINGS LLC and 442 JOHN STREET LLC sold a three-building, 20-unit apartment portfolio at 96 Jackson St.
and 65 Lang St., both in Newark, and 442 John St. in East Newark to MFP Realty for $3.15 million. Julie Gralla of The Kislak Co. Inc. represented the sellers and procured the purchaser.
SITE CENTERS sold 310 Route 36,
a 293,087-square-foot complex in West Long Branch, to Paramount Realty Services for $63 million. Brad Nathanson of Marcus & Millichap represented the seller.
IRGANG GROUP leased 36,500 square feet at Union Lake Crossing, a 393,000-square-foot property at 2100 North 2nd St. in Millville, to Fun City Adventure Park. Joseph Dougherty of Metro Commercial and Keypoint Partners’ Don Mace represented the landlord and tenant, respectively.
SUPERFRESH leased 25,000 square feet at 435 Lexington Ave. in Clifton. Marta Villa and Samuel Bernhaut
of CBRE represented ownership, while Joel Dicker of Bennett Realty represented the tenant.
KUSHNER leased a combined 10,182 square feet at The Shops at Pier Village in Long Branch to Salt
Life, Strand Salon and Remedy Realm. Ryan Starkman of Pierson Commercial represented ownership.
TOP POT KOREAN BBQ & HOT POT and VIRTUA PHYSICAL THERAPY & REHABILITATION leased a combined 10,500 square feet at Hartford Corners, a 215,000-square-foot complex at the corner of Route 130
Reynolds Asset Management has sold a newly completed, 63-unit apartment building in Bound Brook
for $22 million, in a deal arranged by The Kislak Co. Inc.
The developer, which opened the property in 2022, said a longtime New Jersey owner purchased what’s known as Mosaic on Main as part of a Section 1031 like-kind exchange. The deal at 7-15 West Main St. comes as redevelopment activity continues in downtown Bound Brook, which parallels NJ Transit’s Raritan Valley Line.
“We put our heart and soul into every project, so when it came time to part with Mosaic on Main, we wanted to ensure that the new owner would do the same,” said Lou Reynolds, founder and
CEO of Reynolds. “Thankfully,
we found someone with a stake
in the community and a desire to participate in the growing housing opportunities in Bound Brook.”
Kislak Executive Vice President Joni Sweetwood represented the seller and Senior Vice President Robert Squires procured the buyer of the five-story elevator building, which also has one 1,650-square- foot retail space. Residents of the studio, one-bedroom and two- bedroom apartments benefit from upscale finishes and amenities such as a fitness center, while they are steps from the train station, restaurants and retailers.
Deugen Development served as construction manager for
Mosaic on Main, whose project team also included Jose Carballo Architectural Group and Roxbury Engineering Associates.
“Similar to Jersey City and Harrison, Bound Brook is a community where everything old is becoming new again,” Sweetwood said. “What makes Mosaic on Main different are the special artistic touches throughout the property brought to life by the Reynold
team, such as the original mosaic, personally commissioned by Lou, in the building’s lobby.”
 Mosaic on Main at 7-15 West Main St. in Bound Brook
Courtesy: Reynolds Asset Management

   12   13   14   15   16