Real Estate Journal — New Jersey — March 13 - 26, 2015 — 7B


M id A tlantic

N orthern N ew J ersey Gregory Irving represents seller while Jordan Metz represents the buyer Bussel Realty brokers $660,000 sale of 9,603 s/f 641 East Linden Avenue in Linden, NJ L INDEN, NJ — Bussel Realty Corp. (BRC) , a leading industrial real

handle themarketing and leas- ing of the property to prospec- tive tenants. BRC executive vice president Gregory Irving, SIOR represented the seller, Flexline. BRC Vice President Jordan Metz represented the buyer. “The seller utilized the sale for a 1031 reverse tax free ex- change,” noted Irving. “BRC represented Flexline in the purchase of its new facility in Kenilworth several months ago, and Flexline needed to dispose of this Linden property in order to complete the 1031 tax free exchange.” n

estate services firm in New Jersey, announced its arranged the sale of 641East LindenAve. in Linden, an industrial facility of approximately 9,603 s/f. The proper ty so ld f or $660,000 and features 13-foot ceilings, three drive-ins, a new roof and HVAC system. It is located in close proximity to Rte. 1-9, the New Jersey Turn- pike, Newark Liberty Airport, Port Newark/Elizabeth and the Goethals Bridge to Staten Island and Brooklyn. The buyer, 641 East Eliz LLC, purchased the facility as an investment and BRC will The Pinnacle Companies to develop The MC Hotel in Montclair MONTCLAIR, NJ — The Pinnacle Companies an- nounced a joint venture with The Hampshire Companies to develop The MC hotel in Montclair. The Chicago-based Aparium Hotel Group will manage the hotel. The 148-room luxury bou- tique hotel will break ground in the spring of 2015, and will include a rooftop bar, farm-to- table restaurant, conference center and a public art atrium. “We are proud to partnerwith ThePinnacleCompanies on this iconic project and bring the first new, full-service hotel to Mont- clair since the Hotel Montclair closed in 1938,” said Norman Feinstein , vice chairman of The Hampshire Companies. “Montclair continues to undergo a dramatic resurgence and its vibrant culture and community played a lead role in Marriott International selecting it for its renownedAutographCollection portfolio.” “We have a great deal of passion for the history and cul- ture of Montclair,” said Kevin Robinson , COO and manag- ing partner of Aparium Hotel Group. “Our approach to the positioning andmanagement of TheMC hotel will be consistent with our ‘trans-local’ hospitality concept, in which we will create an environment that becomes a destination sought out by travelers and a favorite place for locals.” The hotel’s construction loan financing will be provided by US Bank . n

641 Linden Ave.

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