4B — September 14 - 27, 2012 — New Jersey — Mid Atlantic Real Estate Journal
www.marejournal.com
N EW J ERSEY
And handles sale of Rahway building Zimmel Associates brokers $2 million lease in Clark
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LARK, NJ — David Zimmel, president, Zimmel Associates
“The building was construct- ed from the ground up by owner/builders Philip and Roger Kruvant in 1977”, said Zimmel. “It went through a complete renovation in 2011, including the common areas and the bathrooms.” “It was time for us to move into new space,” said Scott Kessler, the law firm’s manag- ing partner. “We wanted to sell our former building at 1743 St. Georges Ave. in Rahway first. We gave the assignment to Da- vid Zimmel and he delivered on both counts quickly. “The negotiations went smoothly and we couldn’t be
more pleased with the results,” adds Kessler. “The landlord agreed to retro fit the space to suit and our firm will oc- cupy almost the entire floor. Our new offices are accessible by both public transportation and automobile, an important convenience for our clients. And it is just minutes from our former location, which makes the transition easier for clients and staff.” “One Thirty Six Central Avenue is an attractive and convenient place to work” says Zimmel, We’re very happy to have it as an exclusive listing. We do all we can to aggres- sively market our properties and make deals that truly ben- efit both tenant and landlord. These are the types of trans- actions that build long term customer relationships.” The Clark, NJ, building is owned by 136 Central Avenue Associates, represented by principal Roger Kruvant. The law firm’s former build- ing at 1743 St. Georges Av- enue, Rahway, was sold to an investor for an undisclosed amount, in a transaction han- dled by Zimmel Associates. ■ of an imposition of taxation that directly affects our ability to compete on a level playing field with surrounding states,” said Pizzutillo. “The moratorium of the 2.5 percent tax on commer- cial property, suspended for two years, has allowed a number of properties and their tenants to realize savings in their develop- ments. For example, the reloca- tion of Macy’s Parade Studio headquarters from Hoboken to larger quarters provided by Russo Development in Moon- achie saved more than $300,000 because of the moratorium.” • Tax Credit boosts. Chief among them is legislation that has recently passed both houses of the legislature that would in- crease the amount of tax credits authorized under the Urban Transit Hub Tax Credit program by $250 million and permit funds to be allocated to the Grow New JerseyAssistance program. “This program has been very successful in making sure that New Jersey competes nation- ally in terms of private sector job creation. It also protects New Jersey’s interests with an extremely rigorous net benefits test,” said Pizzutillo. ■ NJ issues set focus for NAIOP . . . continued from page 2B
brokered two transactions for the lawfirmof Tobin, Reitman, Greenstein, Caruso, Wiener, Konray & Kessler, PC. The firm, which is known as “Team Law” has signed a 10 year lease valued at $2 million for 11,000 s/f at 136 Central Ave., a three story 39,000 s/f office building, located off of exit 135 of the Garden State Parkway. Zimmel has served as the agent for the building for 10 years. With this deal, the building is 100% occupied.
2011 Leasing Totals: 99.8% Occupied 3,647,365 SF Leased Heller Industrial Parks
Huge Foreign Trade Zone
Energy Efficient Warehouse Lighting
60% Lighting Bill Reduction
20% Solar Energy Electric Rebates
Subsidized Daycare
Leasing for less in Central Jersey.
(732) 287-4880
205 Mill Road, Edison NJ 08837
www.hellerpark.com
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