Page 12 - RE-NJ

10 SEPTEMBER 2024
DEAL SHEET
INDUSTRIAL
FIRST INDUSTRIAL REALTY PARTNERS
sold Montville Industrial Park, a 445,078-square-foot portfolio in Montville, to Longpoint Partners LP. Cushman & Wakefield’s Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema brokered the trade.
B&D HOLDINGS and investors advised by J.P. Morgan Asset Management acquired 1460 Livingston Ave., a six- building, 206,069-square-foot portfolio in North Brunswick. JLL’s Max Custer, Thomas E. Didio Jr. and Benjamin Morgenthal arranged $23.3 million in acquisition financing.
ASSET REALTY & CONSTRUCTION GROUP sold 81 International Drive,
a 132,000-square-foot building in the Budd Lake section of Mount Olive, for $29.1 million. Branch Industrial’s Josh Chesner represented both parties.
BTR CAPITAL GROUP sold 1 Electronics Drive, an 80,420-square-foot building in Hamilton, to Saxum Real Estate and Meadow Partners. JLL’s Marc Duval, Jordan Avanzato, Nicholas
Stefans and Jason Lundy represented the seller and arranged equity for the transaction, while the firm’s Michael Klein, Tom Didio Jr. and Salvatore Buzzerio arranged financing.
THE STRO COS. acquired 97 Fairfield Road, a 76,560-square-foot facility in
Fairfield. Howard Weinberg of JLL represented the seller.
DENHOLTZ PROPERTIES leased 1100 Negron Drive, a 40,500-square-foot building in Hamilton, to Pickleball Kingdom.
LARKEN ASSOCIATES leased 32,456 square feet at Flemington Junction Business Center, a 150,000-square- foot complex at 115 River Road in Flemington, to Vision Wheel Inc. Rob Marek of Raider Realty represented ownership.
A cheese company leased 22,000
square feet at 500 Hoiles Drive in Kenilworth. Kenneth F. Crimmins, Jason Crimmins, Alessandro (Alex) Conte and Peter J. Murano Jr. of The Blau & Berg Co. represented the landlord, while Jodi Luminiello of Coldwell Banker Realty represented the tenant.
256 PACIFIC STREET leased 15,000 square feet at 201 11th St., a 45,000-square-foot property in Piscataway, to Like New Products. Eric Koons of Bussel Realty Corp. represented the landlord.
ONE STEWART COURT LLC sold 1 Stewart Court, a 14,100-square-
foot building in Denville, for $2.475 million. Cushman & Wakefield’s Andy Schwartz, Jordan Sobel, Andre Balthazard and Dan Bottiglieri represented the seller.
RIDGECUT ROAD acquired 107
How Lane, a 6.5-acre site with a combined 39,000 square feet across three buildings in New Brunswick. Kyle Gerace of NAI DiLeo-Bram & Co. brokered the sale, while JLL’s Michael Klein, Max Custer and Ben Morgenthal arranged financing.
BDA HAMILTON leased five acres of industrial outdoor storage space at 121 First Ave. in Hamilton to Acertus Transportation. Commercial Realty
Partners represented the landlord, while Anthony Rittwager and Matthew Phillips of Bussel Realty Corp. represented the tenant.
HIGHPOINT ENTERPRISES sold 2 Gowin St., a 1.29-acre site with a roughly 8,000-square-foot fleet service building in Sayreville, to Dalfen Industrial and Centerbridge Partners LP for $4.05 million. CBRE’s Mark Silverman, Elli Klapper, Liam McGregor and Jeremy Wernick represented the buyer.
OFFICE
BREGAN LLC sold 1934 Olney Ave., a 20,000-square-foot building in Cherry Hill, to Three C Holdings LLC. Wolf Commercial Real Estate’s Bethany Brown represented the seller.
COMMERCE PARK INVESTORS LLC sold
350 Market St., a 13,612-square-foot building in Saddle Brook, for $3.126 million. Marcus & Millichap’s Alan Cafiero, David Cafiero and John Moroz represented the seller and procured the buyer.
AVATAR RESIDENTIAL DETOX CENTER
acquired 585 Cranbury Road, a 13,336-square-foot medical building in East Brunswick, for $2.1 million. Zimmel Associates’ Jordan Zimmel brokered the transaction.
SIGNATURE ACQUISITIONS leased 11,966 square feet at 1150 Route 22 East, an 83,209-square-foot building
in Bridgewater, to ABA Centers of New Jersey. Newmark’s David Simson and Daniel Reider and Deluccia Commercial Group’s Tim Deluccia represented ownership, while Colliers’ Stephen Graziano and Jim Bailey represented the tenant.
KUSHNER REAL ESTATE GROUP leased 9,624 square feet at 685 Route 202/206, a 139,000-square-foot building in Bridgewater, to Biocon Biologics. Justin Gingeleskie, William O’Keefe and Charles Parmelli of Cushman & Wakefield represented ownership, while Avison Young’s Drew Persson represented the tenant.
MANZI EPSTEIN LOMURRO & DECATALDO LLC leased 9,152 square feet at The Offices at Crystal Lake,
a 122,863-square-foot building at
1 Boland Drive in West Orange. Newmark’s Jeff Kolodkin and Andrew Kirshenbaum represented the tenant, a family law practice.
CROW HOLDINGS, DSV INK 355,000 SQ. FT. LEASE IN CARTERET
Crow Holdings Development has landed a second tenant for its new 1.2 million-square-foot
industrial park in Carteret, leasing 355,000 square feet to a global logistics firm.
The Denmark-based user, DSV Global Transport and Logistics, will serve a household-name client from its new location at 300 Salt Meadow Road, CHD said. It’s set to occupy the full building, with plans calling for the expansion
of the existing office space and
specialized fit-outs, including 100,000 square feet of cooler capacity.
Cushman & Wakefield’s Jules Nissim, Stan Danzig and Kimberly Bach represented ownership in the deal off Exit 12 of the New Jersey Turnpike. The real estate services firm’s Mindy Lissner represented DSV, which is the world’s third- largest transportation and logistics company and has more than 1,600 offices and logistics facilities.
“We are thrilled with the selection of this new facility in Carteret,” said DSV’s Josh Summers, president
for solutions North America. “This more than doubles our footprint
in the region and allows us to
draw on our already extensive capabilities there. Crow Holdings Development’s property is the ideal selection and one we believe demonstrates our commitment to our customers’ growth.”
With the DSV lease, Crow Holdings at Carteret is approaching 50 percent occupancy, with continued active interest, according to a news release. Cushman is marketing one remaining full-building opportunity of 479,700 square feet, as well
as a 146,400-square-foot, partial- building space at the campus, which has redeveloped a once- contaminated, 126-acre site less than a half-mile from the Turnpike.
“We are honored to have this global transport leader,” said Clark Machemer, a senior managing director with Crow Holdings Development. “DSV has been active in the market — they
left no stone unturned in their site-selection process. This is a strong testament to our campus and to the borough of Carteret’s success in fostering a pro-business environment.”
300 Salt Meadow Road in Carteret
Courtesy: Crow Holdings Development