Page 10 - RE-NJ

8 APRIL 2025
DEAL
SHEET
INDUSTRIAL
PROLOGIS INC. leased 154,000 square
feet at 3 Security Drive in Cranbury
to Yahee Technologies Corp.
Christopher Galiano of NAI DiLeo-
Bram & Co. spearheaded the lease.
LINEMART leased 102,000 square feet
at 1120 Route 22 in Bridgewater.
KBC Advisors’ Mark Petrella
represented ownership, while
Tom Consiglio and Scott Peck of
Resource Realty of Northern New
Jersey represented the tenant.
FALCON REAL ESTATE LLC sold 371
Campus Drive, a 61,539-square-foot
building in the Somerset section of
Franklin, to IBG Keynet Campus
LLC for $8.5 million. Deluccia
Commercial Group’s Tim Deluccia
represented the seller.
VERONICA DEVELOPMENT
ASSOCIATION leased 25,000
TACONIC ACQUIRES
EXIT 9 WAREHOUSE
FOR $74 MILLION
T aconic Partners has added its
second New Jersey industrial
building with the purchase of a
fully leased, 360,000-square-foot
facility in North Brunswick for
$74.3 million.
According to the fi rm, which is
based in Manhattan, the property
at 1735 Jersey Ave. provides it
with exposure to the highly active
submarket around the New Jersey
Turnpike’s Exit 9. Tenants at the
building include Kamps Inc., one
Courtesy: Taconic Partners
1735 Jersey Ave. in North Brunswick
square feet at 72 Veronica Ave., a
50,000-square-foot building in the
Somerset section of Franklin, to
Infi nity Fragrances LLC. Gregory
Irving and Anthony Mircovich of
Bussel Realty Corp. represented the
landlord, while Antonio DeCicco of
RE/MAX Instyle Realty represented
the tenant.
GLOBAL TRUCK REPAIR leased 614
New County Road, a 17,104-square-
foot trucking facility and outdoor
storage space in Secaucus. Jason
Crimmins of The Blau & Berg Co.
brokered the transaction.
SAJ PROPERTIES LLC sold 19 Gloria
Lane, a 12,000-square-foot fl ex
industrial building in Fairfi eld, to
of North America’s largest pallet
distributors and manufacturers,
and Luxe Living Design, a
high-end event furniture rental
company.
JLL Managing Director Jordan
Avanzato (now with NAI James
E. Hanson), Senior Managing
Director Marc Duval, Senior
Director Nicholas Stefans and
Director Jason Lundy brokered
the deal with an undisclosed
seller. The fi rm’s Evan Pariser and
Aaron Niedermayer, both senior
managing directors, arranged
$46.6 million in acquisition
fi nancing from J.P. Morgan,
while Murphy Schiller & Wilkes
DeSapio Properties Fairfi eld LLC
for $3 million. Gregory J. Sabato
and Brian Wilson of Resource
Realty of Northern New Jersey
represented the seller, while
Deluccia Commercial Group’s Tim
Deluccia represented the buyer.
ALBUSA ENTERPRISES LLC sold 1995
Ferry Ave., a 10,000-square-foot
property in Camden, to Audubon
Supply. Wolf Commercial Real
Estate’s Ryan Barikian brokered the
transaction.
A private business acquired 195
Throckmorton St., an 8,800-square-
foot property in Freehold, for $3.7
million. Sheldon Gross Realty’s
Jonathan Glick and Joshua Glussky
represented the seller, while
Michael Witko of Chilmark Real
Estate Services represented the
buyer.
BANE REALTY LLC leased 8,000
square feet at 330 Roycefi eld Road,
an 18,000-square-foot building in
Hillsborough, to Libiao Robotics.
Avison Young’s Ed English, Ron
Ganter and Jake Claricurzio
LLP partners Chris Murphy and
Charles J. Wilkes, along with
counsels Thomas Garlick and
Jessica R. Brenner, assisted in the
transaction.
“This acquisition represents a
strategic opportunity to continue
to expand our New Jersey
industrial portfolio with a fully
stabilized property at an attractive
going-in yield with future upside,”
said Chris Balestra, Taconic’s
president and chief investment
offi cer. “As we look to expand our
industrial presence in the tristate
market, 1735 Jersey Avenue was
a highly attractive, off-market
opportunity in a submarket with
strong tenant demand and low
vacancy for Class B product.”
In a news release, the fi rm said
the property sits on roughly
17 acres and has 24 loading
positions, direct rail access, up
to 24-foot ceiling heights and
accessory industrial outdoor
storage space. It also benefi ts
from the region’s deep labor
pool, proximity to Port Newark-
Elizabeth and connectivity to
one-third of the U.S. population
within a day’s drive, while
the fi rm has engaged a solar
developer to install a rooftop
photovoltaic system.
represented the tenant.
ALTERRA IOS acquired a combined
seven acres of industrial outdoor
storage space at 223 Paulsboro
Road in Swedesboro and 189
Dominic Lane in Paulsboro. Scott
Mertz of NAI Mertz brokered the
Swedesboro transaction, while
Adam Deeves of Action Commercial
Group arranged the Paulsboro deal.
An investment team acquired 278
Ledge-Landing Road, a three-acre
industrial site in Roxbury, for
$850,000. James Costanzo of Charity
Realty International brokered the
sale.
RIDGECUT ROAD purchased a 1.7-
acre industrial outdoor storage
parcel at 1401 East Linden Ave in
Linden.
OFFICE
ONYX EQUITIES leased 43,176
square feet at 3 Sylvan Way,
part of the 750,000-square-foot
Arbors @ Parsippany campus, to
Acrisure. JLL’s Blake Goodman,
Adam Karafi ol and Chris Romano
represented ownership, while
Newmark’s Jared Horowitz and
Jamie Ragucci Clark represented
the tenant, a major fi ntech
insurance fi rm.
OFFICES AT CRYSTAL LAKE LLC leased
22,373 square feet at 1 Boland Drive,
a 130,211-square-foot property in
West Orange, to BNE Real Estate
Group. JLL’s Jason Benson, Colleen
Maguire and Alex Friedenberg
represented the landlord.
NORTHBRIDGE CAPITAL leased
21,388 square feet at The Mark,
a 237,087-square-foot building at
100 Enterprise Drive in Rockaway,
to Casio America Inc. JLL’s Chris
Conklin, Dan Spero and Maria
Ruberto represented ownership,
while Naoki Yamaguchi of Relo
Redac Inc. represented the tenant.
601W COS. leased 13,647 square feet
at Harborside 5, a 977,225-square-
foot building at 185 Hudson St.
in Jersey City, to Casio America
Inc. CBRE’s Mark Ravesloot,
Robert Norton and Robert Stillman
represented ownership.
WHITE TIGER MARTIAL ARTS leased
7,370 square feet at 30 Galesi Drive
in Wayne. Dennis Giammetta of