Page 12 - RE-NJ

10 JUNE 2025
DEAL
SHEET
INDUSTRIAL
CBRE INVESTMENT MANAGEMENT
acquired Cottontail Logistics Center,
a two-building, 236,000-square-foot
campus at 200 and 202 Cottontail Lane
in the Somerset section of Franklin.
CBRE’s Brian Fiumara and Elli
Klapper represented the seller.
CROW HOLDINGS DEVELOPMENT leased
156,000 square feet at Crow Holdings
at 6A, a 294,000-square-foot property
at 1804 River Road in Burlington, to
GMB North America. Cushman &
Wakefi eld’s Jules Nissim and Kimberly
Bach with NAI Mertz’s Scott Mertz
and Theresa Amato represented the
landlord, while Newmark’s Kyle Eaton
and Rob Loderstedt represented the
tenant.
JWH REAL ESTATE HOLDING leased
52,638 and 49,755 square feet to Ukay
Trucking & Delivery Services and
Farmmi USA Inc., respectively, at
1100 Randolph Road in the Somerset
section of Franklin. Anthony Rittwager
of Bussel Realty Corp. represented
the landlord, while Lee & Associates
and Rubin Realty represented the
respective tenants.
COMMERCE PARK INVESTORS acquired
273 Franklin Road, a 28,000-square-
foot warehouse in Randolph, for $4.5
million. Tom Consiglio of Resource
JERSEY CITY RESI
BUILDING FETCHES
$625,000 PER UNIT
L egacy Development Group
has sold a new 31-unit luxury
apartment building in Jersey City
for $20 million — a per-unit price
of $625,000 — in a deal arranged
by The Kislak Co. Inc.
Davis Briones, a vice president
with the brokerage fi rm,
represented the developer in the
all-cash transaction at 70 Central
Ave. He also procured the buyer,
listed as 70 Central Lofts LLC,
touting the price-per-unit sale
price as the highest for a Jersey
City apartment building of at least
10 units since 2021, citing data
available from CoStar.
“This landmark sale not only
refl ects the thriving Jersey City
market but also sets the stage for
continued growth and greater
opportunity in the area,” Briones
said. “At $625,000 per unit, it is
among the highest prices per
unit paid for a new construction
building in Jersey City.”
Completed in 2024, the fi ve-
story 70 Central Lofts includes
homes with upscale fi nishes and
appliances, plus 7,000 square feet
of amenity space. The site also has
a parking garage for 32 cars and a
single 1,696-square-foot retail unit,
while renters are a half-mile from
the Journal Square Transportation
Center.
Woodbridge-based Kislak noted
that the property also sits on the
border of Journal Square and
The Heights, two of the city’s
thriving neighborhoods. It’s also
about two blocks north of Route
139, providing easy access to the
New Jersey Turnpike and other
highways.
The seller’s attorneys were Russell
Anderson and Anthony Bianco
of Bertone Piccini LLP, while
the buyer’s attorneys were from
Schiller, Pittenger & Galvin PC.
Courtesy: The Kislak Co. Inc.
70 Central Lofts at 70 Central Ave. in Jersey City
Realty of Northern New Jersey
represented the buyer.
A fl oor coating distributor acquired
860 Springfi eld Road, a 24,000-square-
foot building in Union Township,
for $6 million. Richard Goski and
Catherine Goski-Vasquez of NAI
DiLeo-Bram & Co. represented the
buyer.
ACP PARTNERSHIP leased 5,050
square feet at 650 South Ave., a
235,000-square-foot complex in
Garwood, to a national vitamin
distributor. Jeff Goldfi nger of Bussel
Realty Corp. represented both parties.
60 WORTH ST. LLC leased 4,070
square feet at 60 Worth St. in South
Hackensack to New York Girlz Corp.
NAI James E. Hanson’s Dominic
Fittizzi represented the landlord.
PUBLIC EQUIPMENT RENTAL CO. sold a
27-acre development parcel on Route
33 West in Manalapan to Menlo 33
Associates III LLC for $4.5 million.
Daniel Lanni of The Kislak Co. Inc.
represented the seller.
RIDGECUT ROAD acquired 131
Beaverbrook Road, a 5.8-acre service
and outdoor storage property in
Lincoln Park. Nick Stefans and Jason
Lundy of JLL arranged the deal, while
the fi rm’s Max Custer and Michael
Klein sourced acquisition fi nancing
with Byline Bank.
OMNI GROUP leased a 0.8-acre
industrial outdoor storage property at
1925 Fourth St. in North Brunswick to
Riverview Cos. of New Jersey. Jordan
Metz, Benito Abbate and James Friel
of Bussel Realty Corp. represented
ownership.
OFFICE
AMERICAN EQUITY PARTNERS leased
125,000 square feet at Harborside 6,
a 245,364-square-foot building at 135
Greene St. in Jersey City, to Kessler
Rehabilitation Center. Newmark’s
Jamie Drummond, Dan Reider
and John Crawford represented
the landlord, while Cushman &
Wakefi eld’s Frank DiTommaso and
Dan Johnsen represented the tenant.
Four tenants leased a combined 44,388
square feet at 222 and 223 Mount Airy
Road, a 115,961-square-foot campus in
the Basking Ridge section of Bernards.
Chilmark Real Estate Services’
Michael Marchese, Ed Flanagan and
Mike Witko represented ownership.
BGO and ANCHOR HEALTH PROPERTIES
acquired One Seymour Plaza, a
40,785-square-foot building in
Montclair, for $17.9 million. CBRE’s
Jeff Dunne, Doug Rodio and Travis
Langer represented the seller
alongside the fi rm’s Chris Bodnar and
Brannan Knott.
LEFRAK leased 33,843 square feet
at Newport Offi ce Center III, a
620,000-square-foot tower at 499
Washington Blvd. in Jersey City, to
Berkley Insurance. CBRE’s Howard
Fiddle, Benjamin Joseph, Greg Barkan
and Erin Wenzler represented the
landlord.
THE SILVERMAN GROUP sold Columbia
Medical Center, a 19,620-square-foot
facility at 128 Columbia Turnpike
in Florham Park, to Adoni Property
Group for $7.8 million. Cushman &
Wakefi eld’s Andrew Schwartz, Jordan
Sobel, André Balthazard and Dan
Bottiglieri represented the seller and
procured the buyer.
AMERICAN EQUITY PARTNERS leased
19,601 square feet at 5 Vaughn Drive,
a 98,500-square-foot property in West
Windsor, to Essential Properties
Realty Trust. JLL’s Vinny DiMeglio,
Jason Benson and Thomas Romano
represented ownership, while Sab
Russo of Princeton Property Partners
represented the tenant, a publicly
traded real estate management fi rm.
A private investor purchased 191
Clarksville Road, a 13,000-square-
foot building in West Windsor, for
$2.19 million. Sheldon Gross Realty’s
Jonathan Glick arranged the sale.
METROPARK ASSOCIATES LLC leased
7,000 square feet at 33 Wood Ave.
South, a 135,000-square-foot property
in the Iselin section of Woodbridge, to
Seventy2 Capital Wealth Management.
CBRE’s Jonathan Meisel, Joseph Sarno
and Joseph A. Sarno represented
ownership, while Matt Loughlin and
Jodie Matthews of JLL represented the
tenant.
CENTER FOR EVALUATION AND
COUNSELING INC. leased 5,000 square
feet at 30 Galesi Drive, a 46,000-square-
foot building in Wayne. NAI James E.
Hanson’s Darren Lizzack and Randy
Horning represented the tenant.
SIGNATURE ACQUISITIONS leased
4,983 square feet at 1140 Route 22
East, a 96,146-square-foot property in
Bridgewater, to Dworetsky Financial
LLC. Newmark’s Daniel Reider and
Tim Deluccia of Deluccia Commercial
Group represented ownership, while
Deluccia also represented the tenant.