3-15-19

8B — March 15 - 28, 2019— Northern New Jersey — M id A tlantic

Real Estate Journal

www.marejournal.com

N orthern N ew J ersey

EST ORANGE, NJ — The 100,000 s/f office building at 80 For West Orange office building, total of ten new leases and lease renewals Weston of Sheldon Gross Realty manages signings during busy, seven-month period W 2,196 s/f (new tenant) • Primary Capital Services, 1,239 s/f (new tenant)

• Mykita North America LLC, 1,768 s/f (lease renewal) “All these new and renewing tenants collectively testify to what an outstanding facility and location 80 Main St. in West Orange is,” observes Weston. “Of course, I’ve known this for a while, since my office is here. What’s really excep- tional is that the broad variety of different types of companies and organizations located in the building helps create excel- lent networking opportunities for all tenants.” Outside Northern NJ, a 30,000 s/f warehouse at 395 Rte. 34 in Old Bridge, with a Matawan mailing address, has been acquired by V&S Brothers Inc., a Newark-based vehicle dealer and transporter. The transaction was managed by the Sheldon Gross Realty team of Glenn Jaffe , senior vice president, Matthew Le- onelli Jr. , sales representa- tive, and Jonathan Glick , executive vice president. Previously owned by OEG Building Materials, the prop- erty was a site for production of such steel building materi- als as roof decking and metal studs. Sheldon Gross Realty is a full-service commercial real estate firm covering all of New Jersey; it was established in 1962. “We’ve enjoyed a longstand- ing professional relationship with OEG Building Materi- als,” Jaffe said. “The Sheldon Gross Realty team also was instrumental in helping OEG relocate from this Rte. 34 location to its new, 23-acre site just a few miles away. I’d say our history with this type of deal, where we represent long-standing clients on mul- tiple occasions, testifies to the quality of our service.” V&S Brothers Inc. will uti- lize the Old Bridge facility to transition its auction and dealer purchases for shipment overseas. “This is absolutely an ideal site for V&S,” added Jaffe. “I’m confident the location will en- able its business to continue expanding.” Located only a mile from the Garden State Parkway and less than two miles from Rte. 9, the Matawan facility is conveniently located about 50 minutes from midtown Manhattan. In addition, the Rte. 34 property is less than a 90-minute drive from to Center City Philadelphia. 

• Mental Health Associates of Essex & Morris County, 9,258 s/f (new tenant) • Mandelbaum & Mandel- baum, 7,032 s/f (lease renewal) • Mandelbaum & Mandel- baum, 2,479 s/f (lease renewal) • Eagle Rock Alliance Ltd., 873 s/f (lease renewal) • Service Insurance Com- pany, 941 s/f (lease renewal) • Metropolitan Mortgage, 1,736 s/f, (lease renewal) • Dennis Cleary, 819 s/f (lease renewal)

Main St. in West Orange is a popular address, with a total of three new lessees and seven lease renewals during just the past seven months. All sign- ings were managed by Eric Weston , vice president for Sheldon Gross Realty, a full- service commercial real estate firm covering all of New Jersey that itself is a longtime tenant of the five-story building. The nine most recent lessees at the office building are: • Total Family Solutions,

80 Main St.

R E C E N T T R A N S A C T I O N S

MULTIFAMILY $38,000,000 CAMELOT AT CINNAMINSON CINNAMINSON, NJ | 405 UNITS LIFE COMPANY

MULTIFAMILY $7,500,000 MAYBROOK VILLAGE APTS. MAYBROOK, NY | 86 UNITS BANK

RETAIL $25,500,000 KING FARM VILLAGE ROCKVILLE, MD | 118,326 SF LIFE COMPANY

O U R N E W J E R S E Y T E A M

Gary Cohen Managing Director

Marc Nevins Vice President

C O MM E R C I A L R E A L E S T A T E DEBT & EQUITY | INVESTMENT SALES | LOAN SERVICING

Call us at 973.538.2330 or visit northmarq.com/north-new-jersey

Made with FlippingBook - Online Brochure Maker