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10 FEBRUARY 2020
DEAL SHEET
INDUSTRIAL
An affiliate of ENDURANCE REAL ESTATE GROUP LLC and THACKERAY PARTNERS sold 2000 Bishops Gate, a 292,466-square-foot warehouse in
Mount Laurel, for $32.2 million. JLL’s John Plower, Ryan Cottone, Zach Maguire, Dean Torosian and Nate Demetsky represented the seller.
BRANCA PROPERTIES leased 168,315 square feet at 3 Kilmer Road in Edison to Seawest, a third-party logistics firm. Lee & Associates’ Crista Governara, Rick Marchisio and Drew Maffey represented the tenant.
HELLER INDUSTRIAL PARKS leased 166,425 square feet at 41 Distribution Blvd. in Edison to Experior. Lee & Associates’ Crista Governara, Rick Marchisio and Drew Maffey represented the tenant, a transportation, logistics and storage company.
TREETOP DEVELOPMENT acquired 500 Halls Mill Road, a 154,824-square- foot building in Freehold, for
$8.8 million. CBRE’s Elli Klapper, Charles Berger, Kevin Dudley, David Gheriani, Robert Pine and Justin
Passaretti represented the buyer.
GLENMORE MANAGEMENT sold
25 Enterprise Ave. North, a 149,000-square-foot property
in Secaucus, to EverWest Real Estate Investors and a Colorado- based investment fund. CBRE’s Kevin Dudley, William Waxman, Elli Klapper and Charles Berger represented the buyer.
PROLOGIS INC. leased 106,890 square feet at 330 Washington Ave. in Carlstadt to Visual Graphics Systems. Avison Young’s Ed English, Ron Ganter, Tom Giannone and Paul Errigo represented the tenant.
HILDEBRANDT PROPERTIES LLC sold a four-building, 95,000-square-foot portfolio spanning 275 Wagaraw Road in Hawthorne, 187 West Shore Ave. in Bogota and 45 and 51 Route 206 in Augusta for $4.7 million.
The CBRE team of Charles Berger, Elli Klapper and Mark Silverman represented the seller, which was also advised by Rocco Labella of Ferro, Labella & Weiss LLC.
XAVIER II LLC leased 83,000 square feet at 131 West Commercial Ave.
in Moonachie to Spezia Foods. Resource Realty of Northern New Jersey’s Brian Wilson represented the tenant, an organic and non-GMO food distributor.
HISTRONG AMERICA leased 73,310 square feet at 50 Jiffy Road in the
Somerset section of Franklin. Charles Fern of Cushman & Wakefield represented ownership, while David Knapel, David Cantor and Greg Sholom of Team Resources Inc. represented the tenant, a vinyl flooring manufacturer.
THE STRO COS. acquired 4 Vreeland Road, 70,000-square-foot property
in Florham Park. Larry Lerman of Lerman Sanders Realty brokered the deal, while Evan Glanz of E Glanz Associates served as lead counsel for Stro.
V.A. DESIGNS sold 15 Harmich Road, a 57,000-square-foot warehouse in South Plainfield, to Oz Vehadar for $6.15 million. Jordan Metz of Bussel Realty Corp. represented both parties.
343 MURRAY HILL PARKWAY INC. leased 53,361 square feet at 343 Murray Hill Parkway in East Rutherford to Axis Global Logistics. NAI James E. Hanson’s Kenneth Lundberg, Patrick Lennon, Lorenzo Lambiase and Steve Pastor represented the landlord, while Steve Elman of Cushman & Wakefield represented the tenant.
ALFRED SANZARI ENTERPRISES leased 50,429 square feet at 491 Edward H. Ross Drive in Elmwood Park to BioReference Laboratories.
DALZIEL PARK ASSOCIATES sold 330 Dalziel Road, a 40,000-square- foot building in Linden, to G-Tech Elevator. Jordan Metz of Bussel Realty Corp. represented both parties.
TURNBRIDGE EQUITIES and institutional investors advised by J.P. MORGAN ASSET MANAGEMENT leased a
combined 36,504 square feet at
the Ballantine Industrial Center,
a 726,525-square-foot complex at 397-447 Ferry St. in Newark, to
L. Gambert LLC, Windsor and Eli Fashion. NAI James E. Hanson’s Russell Verducci and Eric Demmers represented ownership.
CCKK LLC leased 36,000 square feet at 105 West Dewey Ave. in Wharton to True Form Concrete. Resource Realty of Northern New Jersey’s Brian Wilson and Scott Peck represented the tenant, a concrete company.
A candy and sweets importer acquired 900 Lincoln Blvd.,
a 27,000-square-foot building in Middlesex Borough. The Boniakowski Commercial Real Estate Group’s Todd Gannet represented both parties.
SUMMIT ASSOCIATES leased 20,089 square feet at 120 Fieldcrest Ave.,
a 106,000-square-foot building in Edison, to Vertex Distribution.
NAI James E. Hanson’s Kenneth Lundberg and Patrick Lennon represented the tenant, an industrial fastener business.
DENHOLTZ PROPERTIES leased 9,000 square feet at Edgeboro
LEFRAK, HGI CLOSE $372 MILLION OFFICE SALE IN JERSEY CITY
An investment firm has closed on its $372 million acquisition of a 22-story office tower in Jersey City, adding a high-profile waterfront property to its growing New Jersey portfolio.
A source close to the transaction confirmed that the buyer, Harbor Group International, completed its purchase of 545 Washington Blvd. from LeFrak. The 866,706-square- foot property, which sits within the Newport neighborhood pioneered by LeFrak, is reportedly 96 percent leased to tenants including J.P. Morgan Chase and Insurance Services Office.
Commercial Observer first reported
that the deal had closed, following a September report by Real Estate Alert that Harbor Group had agreed to buy the tower. Citing multiple sources, the Jan. 8 report noted that Morgan Stanley led the $251 million acquisition financing transaction, with Barclays also participating in the deal.
A Cushman & Wakefield team was marketing the property on LeFrak’s behalf. According to Commercial Observer, the team included C&W’s Adam Spies, Doug Harmon, Kevin Donner, Gary Gabriel and David Bernhaut, while C&W’s Gideon Gil, Chris Moyer, John Alascio, Emily Johansen and Noble Carpenter III secured the acquisition financing.
The deal follows the sale of another tower nearby, 575 Washington Blvd., in June 2019.
545 Washington Blvd. in Jersey City (background)