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Real Estate Journal — New Jersey — August 11 - 24, 2017 — 3B


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Sales team representing the seller was led Cruz, O’Hearn, Oliver and Simonelli HFF closes $73.25 million sale of 439-unit apartment community in Plainsboro, NJ P lAiNSBORO, NJ — Holliday Feno- glio Fowler, l.P. ing debt. HFF previously bro- kered the sale of the property to the seller in 2014. Th e Ad -

high and investors are con- tinuing to underwrite renova- tion premiums,” stated Cruz. HFF closed the sale of a 1.73-acre development site located along the Hudson River in Edgewater. HFF marketed the prop- erty on behalf of the private seller. The buyer plans to redevelop the site for resi- dential use. The site is located at 1339 River Rd. one mile south of the George Washington Bridge, and has been the home and marina business of the von Dohln family for three generations. The HFF investment sales team rep- resenting the seller was led by senior managing director Cruz, O’Hearn, Oliver and Simonelli. n

(HFF) has c l osed the $73.25 mil- lion sale of The Addison at Princeton Me a d o w s , a 439-unit, garden-style apar tment community i n Pl a i ns - boro. HFF rep- resented the seller, Har- bor Group Internation- al, LLC. A

d i s o n a t P r i n c e t o n Meadows is l o cat ed at 1912 Pheas- ant Hollow Drive within three miles of Rte. 1 and two minutes from down- town Plains- boro. The HFF investment sales team represent - ing the seller

Jose Cruz

Michael Oliver

The Addison at Princeton Meadows

Kevin O’Hearn Steve Simonelli

ing director Kevin O’Hearn and directors Michael Oli- ver and Steve Simonelli .

“The demand for core plus multifamily in the State of New Jersey remains very

was led by senior managing director Jose Cruz , manag-

private buyer purchased the asset free and clear of exist-

Max Spann to auction 28.8-acre redevelopment site on Rte. 130 in Burlington County, Thursday, Sept. 7

WilliNGBORO, NJ —The Grand Marketplace, an indoor flea market on Route 130 in

Willingboro, NJ wi l l be going on the auction block in September by order of the bank. M a x Spann Real E s t a t e &

Bob Dann

Auction Co. , the region’s most trusted name in real estate auctions, has scheduled the auction for Thursday, Sept. 7 at 1 p.m. at the Hilton Garden Mt.Holly/Westhampton, 111 Hancock Lane, Mt. Holly. The auction will also be open for online bidding. Property previews have been scheduled from noon to 2 p.m. on Wednesday, Aug. 16. The property is located at 4340 Route 130. The 240,294 s/f indoor mar- ketplace is occupied with 180 vendors that attracts an aver- age of 15,000 weekend visi- tors. The building, which also houses a tractor trailer driving school and an indoor racetrack, was completely renovated in 2006 with all new plumbing,

The Addison at Princeton Meadows

electricity, gas, HVAC, floor- ing, roofing and façade. The 28.8-acre property has more than 1,000 ft. of frontage of Route 130 with nearly 38,500 vehicles per day. Located in a primary business district with all public utilities, the property can be repurposed into multi-family, medical, light industrial or a mixed-use development. “This is a high profile prop- erty along Route 130 in a fast-growing section of Bur- lington County,” said Bob

Dann , head auctioneer for Max Spann. “The buyer would have the option of maintaining the property as is, or envisioning something entirely new. Tax abatements are available for the township which is eager to see the site redeveloped.” To take the next step, call 888-299-1438 for the property information package. For more information about this and other Max Spann’s auctions, visit maxspann.com, or follow Max Spann on Facebook/MaxS- pann and Twitter/MaxSpann. n

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