S HOPPING C ENTERS N EW J ERSEY
Section B of the Mid A TLANTIC Real Estate Journal
RIDGEPORT, NJ — CBRE, Inc. (CBRE) an- nounced the sale of 200 Developed by Emory Hill Development within the Pureland Industrial Complex CBRE represents Cornerstone Real Estate Advisers in 597,232 s/f warehouse sale B Company, in a partnership with Brookfield Asset Man- agement, has acquired the property.
Birch Creek Road, located in Bridgeport. CBRE National Partners represented the sell- er, Cornerstone Real Estate Advisers LLC of Hartford, Connecticut. The transaction team of Robert Fahey, Michael Blunt and Brad Ruppel was led by Michael Hines, execu- tive vice president. Hillwood Investment Properties, a Perot
200 Birch Creek Road is a high quality warehouse/ dis- tribution building containing 597,232 s/f, situated within the Pureland Industrial Complex in Bridgeport, New Jersey. The property was developed in 1990-91 by Emory Hill Devel- opment for the current tenant Becton Dickenson & Co.
SEPTEMBER 14 - 27, 2012
HI-LIGHTS
Binswanger brokers $2.1m sale of warehouse facility
200 Birch Creek Road
“Becton Dickinson’s consoli- dation of east coast operations into another market repre- sented a unique opportunity for a value-add investor’s first
entrance into the Southern New Jersey market,” Hines said. “The lack of efficient, flex- ibly designed bulk warehouse/ distribution availabilities,
particularly 500,000 s/f and larger, along the I-95 Indus- trial Corridor was apparent in the high level of interest in this offering.” ■
Colliers International New Jersey arranged the sale of Pfizer Inc.’s 378,000 s/f re- search facility at 865 Ridge Rd. to Ridge Road Properties LLC. See page 5B. On behalf of Vineland De- velopment Corporation, Binswanger announced the sale of a 215,508 s/f manu- facturing and cross-dock warehouse building on ap- proximately 10.66 acres situ- ated at 3501 South East Blvd. See page 3B.
NION, NJ —The Kis- lak Company, Inc. an- nounced the $2.7 mil- 33-unit garden apartment complex in Union TheKislakCo. completes $2.7m sale of Larchmont Manor U
Colliers International team arranges 378,000 s/f sale
lion sale of Larchmont Manor, a 33-unit garden apartment complex in Union. Vice presi- dentAndrew Jonas represented the sellers and sales associate Andrew Scheinerman repre- sented the purchaser in the transaction. “The sellers owned the prop- erty for over 20 years,” said president and co-managing director Robert Holland. “Once they gave us the opportunity to sell it, we quickly generated a great deal of interest among clients and prospects given the strength of the multifamily market and the excellent loca- tion of the property.” Larchmont Manor consists of 33 apartments in two brick
ALSO INSIDE:
N ORTHERN N EW J ERSEY S POTLIGHT .....................7-12B N ORTHERN NJ C OMPANY F OCUS .............................. 11B ICREW NJ O RGANIZATION .....................................13B SNJAI O RGANIZATION ........................................14-15B P EOPLE & C OMPANY N EWS ......................................16B
Larchmont Manor
buildings located very close to Union’s vibrant downtown, neighboring Springfield and Millburn, Rtes. 22, 24, 78 and the Garden State Pkwy.. The property includes many im- provements including hard- wood floors and Thermopane windows.
Financing was provided by Oritani Bank. The seller was represented by Richard Kelin, Esq. of Feinstein, Raiss, Kelin & Booker, LLC and the pur- chaser was represented byAlan Hammer, Esq. and M. Sidney Donica, Esq. of Brach Eichler, LLC. ■
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