2B — September 13 - 26, 2019 — New Jersey — M id A tlantic
Real Estate Journal
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N ew J ersey
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A multi-tenant net leased industrial property REMCO sells investment property for $2,540,000
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LEMINGTON, NJ — Peter Gallicchio presi- dent of Somerset, NJ
based Rem- co Rea l t y Group has ann o un c e d t h a t t h e firm recently sold a multi- t enant ne t leased indus- trial property
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located at 19 Royal Rd. to a New Jersey based investment group. The sale involved a two ten- ant 20,000 s/f industrial build- ing that sits on 2.35 acres and features 20’ceilings, 3 loading docks, one drive-in door and clear-span warehouse space. HAMILTON, NJ — Van- tage Real Estate Services is announced another successful large-scale lease in Hamilton. Ken Richardson , advisor, and Monica Walsh , director of client services, at Vantage RES worked closely with Lori Leonard, CEO, and John Gar- ton, CFO, of Habitat for Hu- manity of Burlington County & Greater Trenton/Princeton. All parties worked diligently to secure a long-term lease of 20,000 s/f, modern facility that will accommodate their second Restore location. “It was a pleasure working with the Vantage RES and Habitat team. Together we were able to move quickly towards a seamless transac- SOMERSET, NJ — This summer, Cushman & Wake- field represented the Winter Organization , which has inked two new, long-term leas- es at 200 Cottontail Lane in Somerset. The commercial real estate services firm serves as the leasing agent for the 208,000 s/f, class A office prop- erty, which continues to experi- ence steady interest. The transactions include a 3,120 s/f headquarters com- mitment by August eTech. Carolyn Sica from CBRE represented the managed IT services firm, which relocated to the property from Hamilton. Additionally, commercial con- tractor Tekcon Construction
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19 Royal Road
Industrial Hub in Pennsyl- vania and Ports Newark and Elizabeth in New Jersey. Remco represented the investor-buyer in this trans- action.
Cooper Electric Supply has occupied 40% of the property since 2003 when the building was first constructed. The property is located mid- way between the Lehigh Valley
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tion. We are excited to bring Restore to the center,” said landlord Michael Jemal of IP Associates . Garton worked closely with Richardson and Walsh to identify the space and secure a lease for a new Restore located at Independence Plaza. “We are so appreciative of the support we received from Vantage Real Estate Services while negotiating the lease terms for our second ReStore. Having the resources available that the Vantage team pro- vides made the process almost effortless for us and allowed for us to continue business as usual knowing the transaction was in good hands,” Garton said. Cushman & Wakefield’s Paul Giannone, Todd Elfa, Kevin Carton and Joe Vacca – based in Iselin will head the 200 Cottontail Lane leasing team. The property includes two adjoining buildings with a center courtyard; 14.5-acre, park-like setting with outdoor seating and a fountain; and an onsite cafe. According to Cushman & Wakefield Research Services, small deals are driving new demand in Central NJ in 2019, with tenants of 10,000 s/f or less accounting for 40.0% of the 1.7 million s/f in regional office leasing through mid-year.
In Cherry Hill, Richard- son worked closely with the owners and franchisees of Medi-Weightloss, to secure a long-term lease of a spacious, modern facility that will ac- commodate their business. The new franchise is located at South Jersey Medical Cen- ter, 1401 Rte. 70 East. “We worked with Ken Rich- ardson to find a space for a new Medi-Weightloss Fran- chise start up! Very smooth process and Ken found us the exact place we were looking for. Kudos to Vantage for hiring such an experienced and professional real estate broker” Andrew Caravello, owner of Medi-Weightloss, said.
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Cushman & Wakefield represents the Winter Organization in two new, long-term leases leased 1,800 s/f to establish a new regional office.
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