Page 10 - RE-NJ

8 MAY 2025
DEAL
SHEET
INDUSTRIAL
CROW HOLDINGS DEVELOPMENT
leased 146,355 square feet at 400
Salt Meadow Road in Carteret to
YunExpress. Cushman & Wakefi eld’s
Jules Nissim, Stan Danzig and
Kimberly Bach represented the
landlord, while Christopher Marx,
Chris O’Connor, Steve Card, Chris
Marx Jr., Taylor DeRisi and Peter
Starr of Savills represented the
tenant, a third-party logistics fi rm.
THE STRO COS. and KRE GROUP leased
a combined 136,714 square feet at 19
Vreeland Road in Florham Park to
Johnstone Supply and PIMS Inc. Bill
Waxman, Jeff Volpi and Morgan Nitti
of Cushman & Wakefi eld represented
ownership.
PINE STREET COMMONS LLC sold Pine
Street Commons, a 123,396-square-
foot complex at 31 Pine St. in
Rockaway Borough, for $12.75
million. CBRE’s Charles Berger and
Jeffrey Babikian represented the
seller and procured the buyer.
BMB PROPERTIES AND MANAGEMENT
LLC leased 95,000 square feet at
220-224 Shreve St. in Mount Holly to
Beholy LLC. David Zimmel of Zimmel
Associates represented the landlord.
NCH CORP. sold 34 Stouts Lane, an
84,000-square-foot building in South
Brunswick, to SNS Real Estate
Investment Group. Avison Young’s
Tim Cadigan, Matthew Turse and
John Gianis represented the seller
alongside Mike McElwee of Hughes
Marino. Steve Gianis, also of Avison
PROLOGIS ADDS
1 MILLION SQ. FT.
IN MONROE
P rologis Inc. has added more
than 1 million square feet in the
region with its acquisition of two
industrial properties in Monroe
Township, in a deal arranged by
Cushman & Wakefi eld.
The brokerage team, which did
not identify the buyer by name,
said the buildings include a
600,000-square-foot, cross-dock
facility at 201 Middlesex Center
Blvd. that was built in 2008 and
features a 36-foot clear ceiling
height, 66 dock doors and 176
trailer parking spaces. The
second property, 773 Cranbury
South River Road, is a 34.73-acre
land site with a 488,884-square-
foot warehouse completed in
2017, one that benefi ts from a
50-year ground lease initiated in
2015.
Cushman & Wakefi eld’s Gary
Gabriel, Kyle Schmidt, Ryan
Larkin and Seth Zuidema
represented the unnamed seller
and procured the buyer. The fi rm’s
Stan Danzig, Jules Nissim, Steve
Elman, Kimberly Bach and Eric
Schlett also advised the seller
in the transaction, the terms of
which were not disclosed.
Published reports including
Traded NJ and Commercial
Property Executive identifi ed
the buyer as Prologis, citing
a purchase price of $166.8
million for the Middlesex Center
Boulevard property. A market
report by NAI James E. Hanson
listed the combined purchase
price for the two buildings as
$197.4 million.
“This off-market deal underscores
unabated investor demand for
industrial property in premier
gateway markets such as New
Jersey’s Exit 8A,” Gabriel said.
Courtesy: Cushman & Wakefi eld
201 Middlesex Center Blvd. (left) and 773 Cranbury South River Road in Monroe
Township
Young, represented the buyer.
Charles Chang sold 1271 Little
Gloucester Road, a 42,000-square-foot
building in the Blackwood section
of Gloucester Township, to Allen
Rubber Co. Vantage Commercial’s
Ken Richardson and Vince Ceroli
represented the seller.
DEVLI REAL ESTATE leased a combined
37,815 square feet at 103 Bilby
Road, a 59,400-square-foot building
in Hackettstown. Brian Wilson of
Resource Realty of Northern New
Jersey represented the landlord.
SEAGIS PROPERTY GROUP acquired 745
Gotham Parkway, a 31,472-square-
foot building in Carlstadt. Tom Nuara
of Resource Realty represented both
parties.
VELOCITY VENTURE PARTNERS
leased a combined 30,000 square
feet at Rockhill Industrial Park, a
97,000-square-foot complex at Route
70 and Rockhill Road in Cherry Hill,
to four undisclosed tenants. Jonathan
Klear and Ryan Brennan of NAI Mertz
represented the landlord.
A specialty food distributor acquired
5 Industrial Court, a 7,000-square-foot
fl ex property in Howell, for $2.125
million. Jonathan Glick and Joshua
Glussky of Sheldon Gross Realty
brokered the transaction.
OFFICE
SIGNATURE ACQUISITIONS signed a
94,445-square-foot renewal at 7 Roszel
Road, a 184,000-square-foot property in
West Windsor, with Miami International
Securities Exchange LLC. JLL’s
David Stifelman and Jason Benson
represented ownership, while Bill King
of King Realty represented the tenant.
DAVIS & ASSOCIATES sold 8000
Sagemore Drive, a 50,400-square-foot
property in the Marlton section of
Evesham Township. John Mozzillo
and Jason Wolf of Wolf Commercial
Real Estate represented the seller.
ORION PROPERTIES INC. leased
46,000 square feet at 8 Sylvan Way,
a 166,039-square-foot property in
Parsippany, to B&G Foods. JLL’s
Tim Greiner and David Stifelman
represented ownership.
The Glassman family sold 383 Route
46, a 34,445-square-foot building in
Fairfi eld, to Fairfi eld Real Estate LLC
for $3.6 million. Peter Rasmusson of
Lee & Associates – WBE represented
the seller.
ALFRED SANZARI ENTERPRISES leased
4,491 square feet at Elmwood Park
Plaza, a 68,000-square-foot building
at 475 Market St. in Elmwood Park,
to Redefi ning Counseling. MRH Real
Estate’s Glen Dulmage, Conor Ryan and
Max Troast represented the landlord.
KALLOS DENTAL leased 3,100
square feet at 160 Summit Ave.,
a 32,000-square-foot building in
Montvale. Accordia’s Frank Recine
represented ownership, while Nick
Yanakas of CARR Realty represented
the tenant, a general and cosmetic
dentistry practice.
ALFRED SANZARI ENTERPRISES signed
a 2,649-square-foot lease renewal
and expansion at Court Plaza South,
a 155,000-square-foot building at
21 Main St. in Hackensack, with
Sutnick & Sutnick LLC. NAI James
E. Hanson’s Andrew Somple, Jessica
Curry and Jonathan Kristofi ch
represented ownership.
COBAN COMPUTER SOLUTIONS leased
2,101 square feet at The Azarian
Building, an 18,000-square-foot
property at 6 Prospect St. in Midland
Park. Kevin Pelio of Azarian Realty
Co. represented both parties.
LIFETIME FINANCIAL PLANNING leased
1,600 square feet at 3461 Route 22
in Branchburg. Todd Gannet of The
Boniakowski Commercial Real Estate
Group represented the tenant.
JAMES MULLALY LAW Offi ces leased
1,131 square feet at Howe Commons,
a 32,600-square-foot building at 65
South Main St. in Pennington. Al Toto
of Commercial Property Network Inc.
brokered the transaction.
RESIDENTIAL
TAG INVESTMENT PROPERTIES sold a
519-unit apartment portfolio in East
Rutherford, Cliffside Park, Palisades
Park, Lyndhurst, Garfi eld and Jersey
City for $94 million, with Tuli Realty
acquiring most of the properties
and Sher Management acquiring the
Kearny asset. Cushman & Wakefi eld’s
Niko Nicolaou, Ryan Dowd, Michael
Guerra, JP Hohl and Alexandria Ebers
represented the seller and procured
the buyers. The fi rm’s Brad Domenico
and Frank Stanislaski advised on
securing fi nancing.
ADONI PROPERTY GROUP sold
Boulevard East Apartments, a new
39-unit building at 355 Edgerton Blvd.
in the Avenel section of Woodbridge,
to FM Ferrari Investments for $14.3
million. Cushman & Wakefi eld’s