10B — July 12 - 25, 2013 — New Jersey — Mid Atlantic Real Estate Journal
www.marejournal.com
N ew J ersey
Curini Appraisal Company Rent Comparability Studies Market Value Appraisals New Jersey HMFA and HUD Approved Appraisers
NJ and Manhattan office broker $1.6 million sale Marcus & Millichap sells 56 unit apt. complex for $7.05m
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LIFTON, NJ — Mar- cus & Millichap Real Estate Investment
Services has announced the sale of Martha Washington Apartments, a property lo- cated in Clifton, according to Ryan Nee , regional manager of the firm’s New Jersey office. The asset commanded a sales price of $7.05 million. Thomas McConne l l , CCIM and Kevin McCrann , directors in Marcus & Milli- chap’s National Multi Hous- ing Group (NMHG), had the listing to market the prop- erty on behalf of the seller, Martha Washington, LLC.
1540 Kuser Road, Suite A-7 Hamilton, NJ 08619 609-586-3500
Contact: Lawrence Melamed, Ext. 103
Martha Washington Apartments
McConnell and McCrann also represented the buyer, REGA Clifton, LLC. Martha Washington Apart- ments is a 56 unit garden apartment complex located at 1401 Van Houten Avenue, in Clifton - a highly desirable area of Northern New Jer- sey. The property was built, managed and meticulously maintained by the same family since 1963.
59 Hook Road Port Bayonne, NJ 5 Empire B ulevar
South Hackensack
Meadows 5 Empire – 136,000 SF
ELIZABETH, NJ — Mar- cus &Millichap Real Estate Investment Services has announced the sale of McDon- ald’s, a 3,500 s/f net leased property located in Elizabeth, according to Nee. The asset commanded a sales price of $1,600,000. McDonald’s has been operating in this location for 20 years. Michael Lombardi , a se- nior associate in Marcus & Millichap’s New Jersey office, had the listing to market the property on behalf of the seller, a private investor. The buyer, a private inves- tor, was secured and repre- sented by Scott Plasky , a senior associate in Marcus & Millichap’s Manhattan office. The asset generated competi- tive multiple offers in a short period, leading to a very com- pressed closing timeframe. National credit single tenant properties are trading at a premium according to Lom- bardi. n
Property Details: 179,964 sf on 7 acres Office: 15,000 SF to suit 22’ Ceiling Height 35’ x 40’ Bays 180 Car Parking
NJ Transit to NYC Buses at corner 12 Docks, 1x14’ DI Door Energy Efficient T-5 Lights with sensors Minutes to I-95 and 80, Routes 3,46, 17 and 1&9, NJ Ports NYC – Bridges and Tunnels
Jeffrey M. Miller Senior Vice President Office: 973.475.7068 Cell: 201.707.4024 Jeffrey.miller@lee-associates.com Exclusive Broker:
LICENSED REAL ESTATE BROKER LEE-ASSOCIATES.COM
All Information is from a source deemed reliable, however no warranty or representation, expressed or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions imposed principals
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