8B — March 10 - 23, 2017 — Northern New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N orthern N ew J ersey
To managing director in NJ office NorthMarq Capital promotes Gary Cohen
At 211 Island Rd. in Mahwah, New Jersey NAI Hanson’s Lundberg & Lennon ink 108,237 s/f ind. sale M ahwah, NJ — NAI James E. Hanson negotiated the sale of
NEW JERSEY — The New Jersey-based regional office of NorthMarq Capital has
managing director of our New Jersey office,” said William Ross, president. “Gary joined NorthMarq Capital in 2011 and is a 20+ year veteran of commercial mortgage bank- ing. We look forward to Gary leveraging his extensive ex- perience and know-how to the benefit of the New Jersey team.” Prior to joining NorthMarq Capital in 2011, Gary ran the New Jersey office of Centerline Capital Group which focused primarily on FHLMC and FNMA debt originations. Gary is a graduate of the University of Maryland and has been ac- tive in various charities and coaching youth sports. n East Orange POA celebrates first full year EAST ORANGE, NJ — The East Orange Property Own- ers Association (EOPOA) , which recently marked its first full year as an industry-unique membership organization, is credited with piloting three integral City of East Orange ordinance amendments during the past 12 months. Established in late 2015, the association is a consortium of private commer- cial real estate investors, devel- opers, lenders and professionals committed to partnering with East Orange officials to advance the city’s revitalization efforts. The ordinances amended the Code of the City of East Orange pertaining to vacancy decontrol, dangerous dogs and incorporat- ing background checks into the licensing of dwelling superin- tendents. All have been success- fully enacted into law. “Each of these very important ordinances was facilitated by a public/private partnership approach employed to enhance the quality of life for apartment- building owners, employees, and tenants as well as single- family homeowners alike,” said Peter Shapiro , the associa- tion’s president/board member and the managing member of Shapco Property Manage- ment (SPM) . In addition to Shapiro, EO- POA’s leadership includes vice president/board member Isaac Frankel , managing partner of Creative Capital Group, LLC (CCG) ; treasurer/Board Member Abraham “Avi” Bren- der , president of ASB In- vestments ; secretary/board member Phillip Evanski , a continued on page 20B
p r o m o t e d Gary Cohen to managing director. In his new role, G a r y w i l l oversee the New Jersey pr oduc t i on team in pro-
a 108,237 s/f building located at 211 Island Rd. in Mahwah. NAI Hanson’s Kenneth Lundberg, SIOR , and Patrick Lennon represented the owner, 211 Island Rd.Associates, L.P., in the sale to Mahwah 2016 LLC. The buyer, Mahwah 2016 LLC, will relocate and expand its current Rockland County based business by occupy- ing 32,547 s/f of space at the property. Mahwah 2016 will take over management of the current
Gary Cohen
viding debt and equity solu- tions through Freddie Mac, Fannie Mae, life insurance correspondents, CMBS lenders and other lending institutions. “I am pleased to announce Gary Cohen’s promotion to
211 Island Rd.
leases including a 55,000+- s/f lease to Ramsey Subaru. The sale will allow the buyer to receive cash flow from the
property, which is covering the mortgage, while also offering the opportunity for future ex- pansion as other leases expire. n
Better relationships. Better results. With close relationships to Freddie Mac, Fannie Mae, FHA, more than 50 life insurance companies, 20+ CMBS lenders, hundreds of local, regional and national banks, NorthMarq Capital has the capital connections to deliver the results our clients expect. Here are just a few....
RETAIL $11,750,000 RESERVOIR PLAZA FAIRVIEW BOROUGH, NJ | 56,044 SF LIFE COMPANY
MULTIFAMILY $7,000,000 MARC HAMPTON APTS. MATAWAN, NJ | 124 UNITS FREDDIE MAC
MULTIFAMILY $80,000,000 APARTMENT PORTFOLIO HOBOKEN, NJ | 519 UNITS LIFE COMPANY
Visit northmarq.com/north-new-jersey or call 973.538.2330 to learn more!
N E W J E R S E Y R E G I O N A L O F F I C E
Gary Cohen gcohen@northmarq.com 973.944.5724
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