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Shopping Center, a 366,000-square- foot complex at 142-178 Route 73 in Voorhees, for a combined $13 million. CBRE’s Matthew Gorman, Michael Shover, Thomas Finnegan and Rob Thompson represented the seller.
BIG LOTS leased 35,000 square feet
at 634 Route 17 North in Paramus to Barnes & Noble. Joe Dougherty of Metro Commercial represented the landlord, while The Goldstein Group’s Marc Palestina and Chuck Lanyard represented the tenant.
MACY’S leased 30,200 square feet at Centerton Square, a 426,436-square- foot property at 2 Centerton Road
in Mount Laurel, and 25,000 square feet at Interstate Shopping Center, a 366,000-square-foot property at 233 North Franklin Turnpike in Ramsey. Jerry Welkis of Welco Realty Inc. represented the landlord in the deals, with CBRE’s James Creed aiding in the Mount Laurel deal and Brian Schuster of RIPCO Real Estate representing the tenant in Ramsey.
SNS REAL ESTATE INVESTMENT GROUP LLC sold Union Avenue Plaza, a 20,866-square-foot center at 21-29 Union Ave. in Somerville, to a personal trust for $3.525 million. Marcus & Millichap’s Brent Hyldahl and Alan Cafiero represented the seller and procured the buyer.
SUBZI MANDI leased 16,000 square feet at Clifton Plaza, a 95,000-square-foot property at 1006 Route 46 in Clifton. Vanessa Kelty of Levin Management Corp. and Leor Hemo of Vantage Commercial Real Estate represented the landlord and tenant, respectively.
KPOT KOREAN BBQ & HOT POT leased 12,300 square feet at St. Georges Crossing, a 343,000-square-foot shopping center at 855 St. Georges Ave. in Woodbridge. E.J. Moawad
of Levin Management Corp. and Stephan Miller of Welco Realty Inc. represented the landlord and tenant, respectively.
ACADIA REALTY TRUST leased 9,000 square feet at Midstate Mall, a 370,620-square-foot property at 300 Route 18 in East Brunswick, to Phenix Salon Suites. Pat Delaney of Jeffery Realty represented the landlord,
while JLL’s David Townes and Alana Friedman represented the tenant.
SHOPRITE LIQUORS and DENTISTRY
FOR CHILDREN leased 5,000 and 3,838 square feet, respectively, at Mid Towne Plaza, a 13,420-square-foot center at 150-170 Main St. in Lodi. RIPCO Real Estate’s Deborah Stone represented the landlord, while Equity Inc. represented Dentistry for Children.
GLOW BEAUTY BAR leased 4,215
square feet at 54-56 West Main St.,
a 13,607-square-foot commercial property in Somerville. Chandler Vanderbeek and Connor Vanderbeek of Bussel Realty Corp. represented the tenant.
PLANET DANCE leased 3,000 square feet at 600 Boulevard in Kenilworth. Kelly Bayer of NAI DiLeo-Bram & Co. represented ownership.
An undisclosed party acquired
247 Route 10, a 2,800-square-foot restaurant property in Roxbury. Todd Gannet of The Boniakowski Commercial Real Estate Group and Teddy Shamma of Jeffery Realty brokered the transaction.
COOLIDGE PARAMUS LLC leased 2,320 square feet at 370 Route 17 North,
a 35,000-square-foot property in Paramus, to Just Salad. Stephanie Greco of The Greco Realty Group represented ownership and The Goldstein Group’s Marc Palestina represented the respective parties.
URBAN EDGE PROPERTIES leased 2,316 square feet at Kearny Commons, a 123,345-square-foot property at 175 Passaic Ave. in Kearny, to Dave’s
Hot Chicken. CBRE’s Jay Miller represented ownership.
FAST BAGEL leased 2,093 square feet at Plaza K, a 30,000-square-foot complex at 171-185 Route 1 in Woodbridge. Kevin Pelio of Azarian Realty Co. represented both parties.
ATKINS COS. and WOODMONT PROPERTIES leased 1,980 square feet
at Washington Square Town Center,
a 35-acre mixed-use development at 253-261 Hurffville-Cross Keys Road in Washington Township, to BODYBAR Pilates. Joe Raniszewski of MSC Retail represented ownership.
FINANCE
An undisclosed lender provided
$74.22 million to refinance a 256-unit apartment building at 329 Alfred Ave. in Teaneck. Gabriel Sasson of Eastern Union arranged the transaction, which has a 36-month term with a 75-percent loan-to-cost ratio, an interest rate of 7.8 percent and interest-only payments for the full term.
A life insurance company closed a $23 million acquisition loan to Chelten House Products for 200 Progress Court,
a 209,437-sqaure-foot warehouse and distribution center in Logan Township. JLL’s Michael Klein, Max Custer and Michael Lachs sourced the loan on the borrower’s behalf.
A life insurance company provided $18.625 million to refinance 39 High St., an 83-unit apartment building
in Jersey City developed by Spitzer Enterprises and Titanium Realty Group. JLL’s Matthew Pizzolato, Max Custer and John Cumming brokered the transaction.
A life insurance company originated $16 million in financing for a grocery- anchored shopping center on Route 202 in Flemington. Wesley Wilcox and Albert Raymond of G.S. Wilcox & Co. secured the debt, which has a 10- year term and a 25-year amortization schedule with flexible prepayment.
AMERICAN UNITED LIFE originated
an $11 million loan to refinance Marketplace at Cinnaminson,
a 328,000-square-foot shopping
center at 2501 Route 130 South in Cinnaminson. Andrew Stewart, Dev Morris and Allison Villamagna of Cronheim Mortgage arranged the debt on behalf of the borrower, National Realty & Development Corp.
PROVIDENT BANK closed an $8.3
Fox Gets Deals Done
TM 15 million loan to refinance Barnegat
Village Square, a 70,491-square-foot shopping center at 912 West Bay Ave. in Barnegat. JLL’s Jim Cadranell and Michael Mataras sourced the loan on behalf of a Walters affiliate.
LAKELAND BANK closed a $8.945 million deal to refinance 456 Hollywood Ave., a 3.92-acre industrial outdoor storage property in South Plainfield. Cushman & Wakefield’s John Alascio, TJ Sullivan, Chuck
Kohaut and Chris Meloni represented the borrowers, Ridgecut Road and Marcus Partners, in sourcing the loan, while Charles J. Wilkes and Holly Burke of Murphy Schiller & Wilkes LLP represented the lender.
NORTHWESTERN MUTUAL provided a five-year, fixed-rate loan to Woodmont Properties for Woodmont Way at West Windsor, a new 443-unit multifamily property at 100 Woodstone Circle in West Windsor. JLL’s Thomas Didio, Thomas E. Didio Jr., Salvatore Buzzerio and Benjamin Morgenthal brokered the transaction. RE
Fox Rothschild’s New Jersey Real Estate attorneys have been at the table for many of the state’s largest commercial real estate transactions, including multiple NAIOP Deals of the Year.*
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