M id A tlantic Real Estate Journal — New Jersey — November 19 - December 23, 2021 — 9B N ew J ersey
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Terreno purchases 5.4-acre improved land parcel at 97 Third Street NAI James E. Hanson negotiates $26.3 Million acquisition of Kearny,NJ industrial property
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use for this historic building.” In addition to representing ChildSmiles in the sale of 45 Bleeker St., Kirshenbaum also represented the dentistry practice as they relocated their back-office operations to a 9,500 s/f suite at 103 Eisen- hower Parkway in Roseland. NAI James E. Hanson ne- gotiated a new lease with Marmiro Stones for 24,057 s/f of industrial space at 99 Mur- ray Hill Parkway in East Ruth- erford. Lundberg, SIOR, Steve Pastor, Patrick Lennon , and Lambiase represented the landlord, 99 Murray Hill Park- way, Inc., in the transaction. “The competition within the Meadowlands market re- mains at an all-time high,” said Lundberg. “With such little new development in the area, high-quality industrial spaces like 99 Murray Hill Pkwy. stand out to a wide range of businesses. This deal truly reflects our understand- ing of the market, and we are thrilled to welcome another quality tenant to the property on our client’s behalf”. MAREJ
EARNY, NJ — NAI James E. Hanson , has negotiated the
Rutgers University-Newark recognized 45 Bleeker Street’s location as desirable for its use as administrative office space. Positioned in the heart of University Heights and the Rutgers University-Newark campus, 45 Bleeker St. is high- ly accessible to both students and staff. It is also nearby the New Jersey Institute of Tech- nology, Rutgers New Jersey Medical School, and Essex County Community College. Additionally, the building is walkable to the Broad Street and Newark Penn NJ Transit stations as well as the Superior Court of NJ and Essex County New Jersey Courthouse. “It comes as no surprise that Rutgers University-Newark jumped on the opportunity to buy this property to grow their presence in the surround- ing area,” said Kirshenbaum. “High-quality office spaces in resurgent downtown areas like Newark continue to be in high demand, and we are pleased to have leveraged our understanding of the market to identify both a buyer and new
purchase of a 5.4-acre im- proved land parcel at 97 Third St. in Kearny for $26.3 million. NAI James E. Hanson’s Ken- neth Lundberg, SIOR, Pat- rick Lennon , and Lorenzo Lambiase, MBA , represented the buyer, Terreno in the transaction. Located just five miles from Port Newark, 97 Third St. lies just off Exit 15E on the New Jersey Tpke. and provides unparalleled accessibility to one of the most competitive industrial markets on the East Coast. The acquisition is the latest New Jersey addition in Terreno’s growing portfolio of industrial real estate assets across six major coastal U.S. markets including the north- ern New Jersey and New York City market. With the acquisi- tion, Terreno’s portfolio in the northern New Jersey and New York City area now spans 63 buildings and 3,570,180 s/f. “Finding suitable investment properties in the northern New
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Jersey and NewYork City area only grows more difficult by the day,” said Lundberg. “In such a tight market, it has never been more important for buyers to tap a seasoned and experienced team of brokers that have the local relation- ships and market knowledge to find deals. We are pleased to be able to leverage our expertise in this region to help Terreno enhance its portfolio.” In a second transaction, NAI James E. Hanson has negoti- ated the sale of a 3,700 s/f professional office building at 45 Bleeker St. in Newark. NAI James E. Hanson’s Andrew
Kirshenbaum represented both the seller, ChildSmiles, and buyer, Rutgers University, in the transaction. Located in the heart of down- town Newark, 45 Bleeker Street is located within the James Street Commons His- toric District and was origi- nally owned by the Archdiocese of Newark. Since that time, the building has had several own- ers and has recently under- gone some upgrades, including renovations to four restrooms, new data wiring throughout the building, and a new HVAC system. Already owning many of the neighboring properties,
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