24 — January 13 - 26, 2012 — New Jersey — Mid Atlantic Real Estate Journal

MARE journal.com


NAI Hanson’s Lundberg reps lessor The Hampshire Cos. leases 85,000 s/f

ODI, NJ — NAI James E. Hanson represent- ed both parties in the Ongoing income potential of fully leased property NAI Hanson announces $590k sale of apartment building L

NORTHVALE, NJ — The Hampshire Companies an- nounced that Fillo Foods has signed a long term, full- building lease for an 85,000 s/f industrial/flex facility lo- cated at 10 Fairway Court. RAB Electric signed a short term-lease for 35,000 s/f of the warehouse’s space, occupying a portion of the building while Fillo Foods commences its upgrades. “We pride ourselves on aggressively working with our tenants to accommodate their specific needs,” said Michael Harrington, an in- vestment manager of The Hampshire Companies. “We look forward to a long-term relationship with Fillo Foods and remain committed to providing quality commer- cial space in premier loca- tions.” Kenneth Lundberg, SIOR of NAI James E. Hanson represented The Hampshire Companies in the transac-

tion. Fillo Foods was repre- sented by Mitch Helfman of MRH Real Estate. LYNDHURST, NJ — The Hampshire Companies an- nounced that Home Goods, a division of TJX Companies, Inc. has leased 24,000 s/f of retail space at Veterans Square Town Center. “Veterans Square contin- ues to be strong performer in our retail portfolio,” said Kim Stirba-Reynolds, a se- nior investment manager for The Hampshire Companies. “Strategically positioned within Bergen County, this multi-tenant retail center has thrived due to the vari- ety of high caliber tenants Hampshire has secured and the center’s ideal location in a densely populated area. We look forward to further ex- panding the site to further ac- commodate tenant demands and consumer needs.” ■

“The buyer was attracted to the great value of the deal -- both price and future income potential,” Cassano said. “The fully leased property will pro- vide excellent cash flow for the new ownership.” ENGLEWOOD, NJ — NAI James E. Hanson represented Wells Fargo Bank in securing 3,780 s/f of bank space at 15 West Palisade Ave. Wells Fargo signed a long term lease at the building, which is located in Englewood’s downtown central business Mark Ruble and Jamie Me- dress, investment specialists in Marcus & Millichap’s Phoe- nix office, assisted by Fasano had the listing to market the property on behalf of the seller. The buyer was secured and rep- resented by Judson Kauffman

district. The bank is relocating from Engle Street, also in Engle- wood. NAI Hanson vice presi- dent Joan Cenicola represented Wells Fargo in the transaction with landlord Treeco/Secrets, LLC. “As an affluent town, Engle- wood is a strategic market for Wells Fargo, so it was impor- tant that they find a prime loca- tion,” Cenicola said. “This lease transaction allows the bank to relocate to a highly trafficked downtown pedestrian area.” ■

$590,000 sale of a six-unit a p a r t me n t building at 528 Harrison Ave. NAI Han-

son vice presi- dent Anthony Cassano over- saw the trans- action on behalf of the buyer, T.T. & Sons Realty LLC. Anthony Cassano

EGG HARBOR TWP., NJ — Marcus &Millichap Real Estate Investment Services has an- nounced the sale of Chick-fil-A ground lease, a 4,227 s/f single- tenant net-leased, according to Michael Fasano, vice president and regional manager of the firm’s New Jersey office. The asset commanded a sales price Marcus & Millichap sells Chick-Fil-A ground lease of $1.727.3 million and has a capitalization rate of 5.5%. and Glen Kunofsky, investment specialists in Marcus & Mil- lichap’s Manhattan office. Chick-fil-A is located at 6038 Black Horse Pike. The prop- erty is a short distance from the Hamilton Mall, Consumer Square Mall and The Festivale Hamilton – over 2,700 s/f of retail space. ■


McGovern and Goodwin negotiate CBRE handles 10,800 s/f lease in Marlton

New lease signed with Baseball Academy NAI Mertz reps Cherry Hill Business Park in 1,190± s/f

CHERRY HILL, NJ — NAI Mertz, Realtor, has represented the owner of

Cherry Hill B u s i n e s s P a r k a n d the new ten- ant, All Star B a s e b a l l Academy, in an 11,190± s/f lease at 3 Esterbook Ln. R e b e c c a Ting, SIOR, and S c o t t Mertz,SIOR, w e r e t h e brokers who negot iated the transac- tion. ■

Runnemede Corporate Center

in Southern New Jersey and enabled them to significantly improve their corporate im- age. This division in South Jersey has experienced signif- icant growth and Runnemede Corporate Center allows them the flexibility to expand even further if needed in the near future. ” added McGovern. The financial details of the transaction remain undis- closed. ■ Corr, senior vice presidents for Binswanger’s New Jersey Division represented the seller for this transaction. David Ricci of the Flynn Company represented the buyer. ■

MARLTON, NJ —Dan Mc- Govern and Bill Goodwin at CBRE, Inc. (CBRE) brokered a 10,800 s/f lease with Roto- Rooter in Runnemede Cor- porate Center at 175 Ninth Ave. The property is owned by Richards & Robbins. “Runnemede Corporate Center was a great oppor- tunity for Roto-Rooter. This location allows them great access to all major arteries The facility is located in the Pureland Industrial Complex along I-295, midway between New York City and Washing- ton, DC. Marc Policarpo and Bob

Rebecca Ting

Scott Mertz

Cherry Hill Business Park

SWEDESBORO, NJ — On behalf of Barry Callebaut U.S.A., LLC, Binswanger is pleased to announce the sale of a one-story, 65,804 s/f building with acreage located at 400 Binswanger brokers 65,804 s/f sale of building in Swedesboro Eagle Court in Swedesboro, New Jersey. The buyer, Cocoa Services, L.P. is the manufacturer of chocolate and plans to use the facility for cocoa processing. Key features of the building include reinforced concrete floors; insulated metal panel over concrete block walls; ceil- ing heights to 27’3” clear; steel columns spaced 40’ x 50’.

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