Page 12 - RE-NJ

10 FEBRUARY 2025
DEAL
SHEET
INDUSTRIAL
CAMBER REAL ESTATE PARTNERS and
INVESCO REAL ESTATE acquired a fi ve-
building, 384,335-square-foot portfolio
at 6 Berry Drive in Hainesport and 110,
120, 130 and 140 Mount Holly Bypass
in Lumberton. CBRE’s Michael Hines,
Joe Hill and Brad Ruppel represented
the seller.
ALCAMO CAPITAL leased 150,272
square feet at 40 Enterprise Ave.,
a 261,646-square-foot building
in Lawrence Township, to CEVA
Logistics. Avison Young’s J.C.
Giordano, Tim Cadigan, Matt Turse,
John Gianis, Stephen Gianis and Judy
Troiano represented ownership, while
Newmark’s Craig Engelhardt, Tom
Carragher, Chris Carragher and Kyle
Eaton represented the tenant.
25 GREEN POND INVESTORS LLC leased
124,556 square feet at 25 Green Pond
Road in Rockaway to Rockaway
Holding Group LLC. Cushman &
Wakefi eld’s Stephen Sander and
Steve Elman represented the
landlord, while Daniel Foley of Savills
represented the tenant.
TRANS AMERICAN TRUCKING SERVICES
sold an 8.84-acre industrial outdoor
storage site at 115 St. Nicholas Ave.
and 115 Skyline Drive in South
Plainfi eld to Oliver Street Capital and
Bain Capital Real Estate for $33.25
million. NAI James E. Hanson’s
Scott Perkins, Christopher Todd
and William Ericksen represented
the buyers. JLL’s Jon Mikula, Jim
Cadranell, John Cumming and
Christian Badalamenti sourced a
$22.3 million acquisition loan with
Byline Bank.
DENHOLTZ PROPERTIES sold a
73,573-square-foot mixed-use
portfolio at 301, 315, 33, 75, 89 and
225 Terminal Ave. in Clark for $18
million. Zimmel Associates’ David
Zimmel brokered the sale.
RICHARDS & ROBBINS leased 27,356
square feet at 262 Old New Brunswick
sought-after markets in the nation,”
Ryan Goldstein, Adam Szabo and
Steven Heller, managing principals
of Summit-based Invel Capital,
said in a joint statement. “We look
forward to continuing Waldwick
Station’s legacy as a luxury, transit-
oriented community that provides
the ideal blend of luxury, unique
character and access to commerce,
entertainment and nature.”
Built by Russo Development
and Dinallo Construction Corp.,
Waldwick Station opened in fall
2017 as part of a project designed
by MHS Architecture. The building
is notable in that it sits on a long,
thin footprint between a residential
neighborhood to the west and the
train station to the east, blending
the two environments with two
distinctly different facades.
Ed Duenas, Ryan DePaul and Dan
DeSanctis of Cushman & Wakefi eld
represented NetElixir, while CBRE’s
Peter Shikar represented Kyocera,
DiMeglio represented Macleods
Pharma USA and Brody Todd of
Cushman represented ProcDNA.
COACH USA sold 349 1st St., a
43,593-square-foot building in Elizabeth,
to Yankee Line. Ashley Rosa, Tamara
Blau and Brad Jacobs of The Blau &
Berg Co. represented the buyer.
ONYX EQUITIES leased 43,000 square
feet at The Arbors @ Parsippany,
a 750,000-square-foot campus in
Parsippany, to Porzio, Bromberg
& Newman. Josh Cohen and Ben
Brenner of Cushman & Wakefi eld
represented the tenant, a general
practice law fi rm.
STRATEGIC FUNDING ALTERNATIVES
LLC sold 196-204 Grove Ave., a
23,525-square-foot medical and retail
property in Deptford Township, for
$5.375 million. Marcus & Millichap’s
Brent Hyldahl, Alan Cafi ero and Seth
Goldberg brokered the transaction.
A private investor acquired 100 North
Black Horse Pike, a 13,398-square-
Road, a 140,000-square-foot building
in Piscataway, to Appco Pharma LLC.
Steve Bussel of Bussel Realty Corp.
represented the landlord.
A private trucking company leased
20,567 square feet at 85 Kero Road in
Carlstadt. James McNerney of Silver
Edge Real Estate and Ryan Buerkle
of JLL represented the landlord and
tenant, respectively.
EASTERN TORQUE SERVICES leased
13,217 square feet at 315 Roycefi eld
Road, a 54,600-square-foot facility
in Hillsborough. Zimmel Associates’
Jason Zimmel brokered the
transaction.
INVEL BUYS 111-
UNIT WALDWICK
RENTAL PROPERTY
I nvel Capital has acquired a
111-unit multifamily property in
Waldwick for $39 million, adding
an asset that was built less than a
decade ago and is steps from NJ
Transit rail service.
The fi rm noted that the Waldwick
Station property, located at 41 West
Prospect St., opened in 2017 with
Courtesy: Invel Capital
Waldwick Station at 41 West Prospect St. in Waldwick
a mix of studio, one-bedroom and
two-bedroom rentals and a series of
amenities. It is immediately west of
a stop on NJ Transit’s Main/Bergen
County Line, providing commuter
rail service to Manhattan, while
it’s also steps from Waldwick’s
downtown shopping district.
Brian Whitmer of RePropCo
Capital Advisors in partnership
with Cushman & Wakefi eld’s
Niko Nicolaou and Ryan Dowd
arranged the off-market sale, while
JLL’s Michael Klein, Gerard Quinn
and John Cumming
arranged fi nancing.
“We were excited
by the opportunity
to acquire a best-in-
class community in an
irreplicable location,
within one of the most
SULLIVAN FAMILY HOLDINGS leased
12,500 square feet at 240 North
Randolphville Road, a 22,500-square-
foot facility in Piscataway, to MCR
Cabinetry Inc. Anthony Mircovich of
Bussel Realty Corp. represented the
landlord, while Y.Y. Lien of EXP Realty
LLC represented the tenant.
TRIUMVIRATE ENVIRONMENTAL leased
10,000 square feet at 16 Heller Park
Lane in the Somerset section of
Franklin Township. Joshua Glussky
of Sheldon Gross Realty arranged the
deal alongside the Metz Industrial
Group of Bussel Realty Corp.
FORTRESS GROUP LLC sold 20
Commerce St., a 7,000-square-foot
building in Springfi eld, to Vericon
Construction Company LLC for $1.88
million. Gregory Irving of Bussel
Realty Corp. and NAI DiLeo-Bram &
Co. represented the respective parties.
LEE SQUIRE sold 22 Kinderkamack
Road, a 3,125-square-foot mixed-use
building in Oradell, to Adam Dayson
for $827,500. NAI James E. Hanson’s
Anthony J. Cassano and Dick Hecker
represented the seller, while Christie’s
International Real Estate represented
the buyer.
OFFICE
BERGMAN REAL ESTATE GROUP signed
renewals and new leases at 500
College Road East, a 160,000-square-
foot building in Plainsboro, with
Deloitte LLP, NetElixir, Kyocera
Document Solutions America Inc.,
Macleods Pharma USA Limited and
ProcDNA. JLL’s Vinny DiMeglio and
Erin Moran represented ownership.
foot building in the Williamstown
section of Monroe Township. Vantage
Commercial’s Vince Ceroli and Emily
Stein represented the buyer.
RED RIVER ASSET MANAGEMENT
leased 9,022 square feet at 299
Cherry Hill Road, a 76,260-square-
foot building in Parsippany, to
Unifi ed Women’s Healthcare. Rick
Genthe, Bob Lee and Sean O’Brien
of Lincoln Property Co. represented
the landlord, while JLL’s Larry Martin
represented the tenant.
CHERRY HILL MARLKRESS LLP sold
1155 Marlkress Road, an 8,700-square-
foot building in Cherry Hill. Wolf
Commercial Real Estate’s Evan Zweben
and Jason Wolf represented the seller.
ALFRED SANZARI ENTERPRISES
leased 8,122 square feet at the Alfred
N. Sanzari Medical Arts Building,
an 84,000-square-foot building at
360 Essex St. in Hackensack, to
Hackensack Meridian Health. RIPCO
Real Estate’s Curtis Nassau and
Patrick Brake represented ownership.
ACCORDIA signed a 6,900-square-
foot lease renewal at Greenbrook
Executive Center, a 203,028-square-
foot building at 100 Passaic Ave.