S HOPPING C ENTERS N EW J ERSEY
Mid Atlantic Real Estate Journal — New Jersey — January 11 - 24, 2013 — 9A
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OODBRIDGE, NJ —The past year has been a stellar one Acquires three new properties and completes 61 lease transactions Bergman Real Estate Group’s transactions total $22 million+ W
the transactions total 240,246 s/f, with an aggregate rent value exceeding $22 million. Additionally, Bergman con- tinued to grow its portfolio in 2012, announcing three significant acquisitions during the year: • In a joint venture part- nership with Time Equities, Inc., Bergman purchased 51 Haddonfield Rd., a three-story, 96,000 s/f office building in
lease transactions included: • Seven new leases, total- ing 24,000 s/f, were signed at 155 Passaic Ave. in Fairfield. This raises occupancy at the four-story, class A building to 84 % — up from 60% at the beginning of 2012. • Hudson City Savings Bank expanded its lease at 45 Eisen- hower Drive, a classAbuilding in Paramus, by 11,000 s/f, to a total of 38,301 s/f, bringing the year-end occupancy to 86%. • ZT Group International, Inc., signed a new lease for 23,451 s/f of space at 333 Meadowlands Parkway, a five-story office building in Secaucus, bringing occupancy to 87%. • Atlantic Imaging, Inc., signed a new lease for 8,741 s/f of space at 110 South Jefferson Rd., part of the two-building Jefferson Plaza office complex in Whippany. Year-end occu- pancy is 88%. • Index Engines renewed its 18,200 s/f lease at Holmdel Ex- ecutive Center, a two-building office complex in Holmdel. ■
for Bergman Real Estate Group . The privately owned real estate investment firm, which owns and manages of- fice properties throughout New Jersey, announced that it com- pleted 61 lease transactions in 2012. Made up of 70 % new tenant transactions and 30 % lease renewals and expansions,
51 Haddonfield Road
JANUARY 11 - 24, 2013
Cherry Hill. • Also as part of a joint ven- ture with Time Equities, Berg- man purchased 155 Passaic Ave., a four-story, 88,000 s/f office building in Fairfield. • In a joint venture part- nership with Gottesman Real Estate Partners, Bergman purchased Aspen Corporate Center, an office complex that features two 45,000 s/f, three- story office buildings located at 1460/1480 U.S. Hwy. 9 North in Woodbridge. “This year’s results are an excellent indicator of an im-
proving office market in New Jersey,” said Michael Berg- man, president and CEO of Bergman Real Estate Group. “Seeing positive absorption throughout most of our port- folio is extremely encourag- ing for Bergman Real Estate and the local commercial real estate market as a whole. On the acquisition front, we will continue to seek out well-lo- cated, value added suburban office and medical office prop- erties, as prices continue to be attractive.” Bergman’s notable 2012
HI-LIGHTS
Gebroe-Hammer arranges $16.55m multi-family sale
Monmouth County’s sea- shore locale, where Ge- broe-Hammer Associ- ates recently finalized the $16.55 million sale of 172 units at Chesterfield Gar- dens in Freehold Township. See page 10A.
deVarenne & Mallaney represent the seller CBRE announces $16.8m sale of 701 Union Boulevard
Cushman &Wakefield handles sale of $7 million portfolio
Cushman & Wakefield’s Metropolitan Area Capital Markets Group orchestrated the sale of a 162-unit apart- ment portfolio in Neptune. Three propertiestraded from their original owner for $7 million. See page 13A.
TOTOWA, NJ — CBRE an- nounces the $16.8 million sale of 701 Union Blvd. to Digital Realty Trust . The deal was brokered by Jeffrey Dunne , Kevin Welsh and Brian Schulz of CBRE’s NewYork Institutional Group along with Remy deVarenne and Tom Mallaney of CBRE’s Saddle Brook office, which rep- resented the seller Hoffmann- La Roche Inc. (“Roche”). 701UnionBlvd. is a271,800± s/f industrial property New ownership intends to significantly supplement the existing infrastructure and create a state-of-the-art data center with 15.75 megawatts of critical IT load capacity to meet future demand in this
ALSO INSIDE:
N ORTHERN N EW J ERSEY S POTLIGHT ........................ 15A ICREW NJ O RGANIZATION ..................................... 20A P EOPLE ON THE M OVE ............................................. 22A
701 Union Boulevard
key corporate enterprise mar- ket. Kevin Welsh had the follow- ing comment on the sale: “701 Union Boulevard is an ideal fit for Digital’s current portfolio in the New York Metro market area which is nearing capac-
ity, and the site enables it to meet future demand for highly reliable data center space. The redevelopment of the existing building coupled with addi- tional land for new development offers considerable upside po- tential for Digital.” n
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