Real Estate Journal — New Jersey — June 8 - 21, 2018 — 3B
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M id A tlantic
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All-cash sale and Like-Kind Exchange Davidovic of The Kislak Co. arranges 14,000 s/f commercial condo In Hoboken for $6.6 million
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said Davidovic. “The property offered upside in the office rents and potential with the retail space.” The premier commercial condominium consists of approximately 7,500 s/f of storefront retail space with frontage on Washington St. and another 6,500 s/f of fully occupied office space on the lower level. Baby Gap occu- pies 60% of the retail space. Washington St. is the prin- cipal commercial and retail thoroughfare in Hoboken. The property is an excellent location only four blocks from
the Hoboken Terminal, which is one of the New York met- ropolitan area's major trans- portation hubs with quick service to midtown and lower Manhattan, and surrounded by many national and local retailers including Chipotle, CVS, McDonalds, Starbucks and Walgreens. Davidovic joined Kislak in 2006 and specializes in the sale of multifamily proper- ties with a focus on land and development throughout northern New Jersey. After his first year with Kislak, he received the firm’s pres-
tigious Rookie of the Year award and he is also a past recipient of the firm’s Sima Kislak Jelin Salesperson of the Year award. Established in 1906, Kis- lak’s market leadership posi- tion and longevity are due to its ability to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of profes- sionals. Kislak’s prestigious client base includes indi- vidual investors and owners, partnerships, financial insti- tutions, and REITs.
oboken, NJ — The Kislak Com- pany , Inc . an -
n o u n c e d the $6.565 million sale of a 14,000 s/f commer- cial condo- minium lo- cated at 222 Washington St. in Hobo- ken.
Scott Davidovic
222 Washington St. interest rate environment and strong demand for invest- ment properties in Hoboken,”
J.G. Petrucci Co. recognizes Cbre’s Belfer and McCabe as Brokers of The Year Saddle Brook, NJ — CBRE announced that Lou Belfer and Patrick McCabe were recognized by J.G. Petr- cucci Company, Inc. , as brokers of the year at the firm’s Annual Leadership Awards Dinner. Belfer was the NJ Leader- ship Award recipient and was recognized for his work in the ABC Supply transactions in Plainfield, and East Orange. The privately-held roofing sup- ply company based in Beloit, WI inked a 30,000 s/f lease at 11-41 Sussex Ave. in East Orange, and will be an anchor tenant at J.G. Petrucci Co.’s Sussex Ave. Urban Renewal project. J.G. Petrucci Co. also recog- nized CBRE’s Patrick McCabe with the Pennsylvania Lead- ership Award for his work in the firm’s acquisition of five properties totaling six-acres in Willow Grove, PA. Located directly across from the Willow Grove SEPTA train station, the existing properties will comprise a new development project, Station at Willow Grove, with 275 new apart- ment units and 30,000 s/f of commercial and retail space. Kislak marketed the port- folio on an exclusive basis. Senior vice president Scott Davidovic represented the seller and procured the pur- chaser, a longtime client with significant holdings in Hobo- ken and elsewhere in Hudson County. The transaction was all cash and the purchaser completed an I.R.C. Section 1031 Exchange with the pur- chase. “The seller was the original developer of the property and felt the sale came at the right time due to the relatively low
Investment Sales | Commercial Sales and Leasing
FOR SALE Long Branch, NJ Land Approved for 169 Luxury Units plus Clubhouse with Employee Unit Joni Sweetwood ext 273 FOR SALE Elizabeth, NJ
FOR SALE Red Lion, PA
35 Townhouses Matt Wolf ext 237
Rendering
FOR SALE Hackettstown, NJ
99,317 SF Car Dealership Michael Salomon ext 243
24 Residential Units Jeff Squires ext 246
FOR SALE South Brunswick, NJ
FOR SALE Trenton, NJ
2.27± Corner Lot Matt Weilheimer ext 253
50,980 SF Retail Barry Waisbrod ext 272
The Kislak Company, Inc. | www.kislakrealty.com | 732 750 3000
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