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

MARE journal.com


RENTON, NJ — Rich- ardson Commercial Realtors announced And completes 5,117+ s/f lease in RWJ University Hospital Hamilton campus Richardson Commercial Realtors brokers 76,100+ s/f sale in Trenton T

the sale of the property lo- cated at 50 North Clinton Avenue from Edison Learn- ing, Inc. to the Pentecostal Church Assembly of God. The property is 76,100+ s/f and was formerly a Crescent Shrine Temple and local char- ter school. The building is a historical landmark location and was designed by Philadel- phia architect Walter Hankin in 1929. It features beautiful architecture with arch motifs and decoration in local terra cotta. The Pentecostal ChurchAs- sembly of God is a local church organization that is growing their membership and they needed more space to accom- modate their congregation. Michael Pratico Sr., the agent for the property, was excited to find a buyer from the local area who can make use of a historical building that has been vacant for some time. The buyer was represented BERKELY HEIGHTS NJ — Avi Oren of New Market Realty Group (NMRG) has announced the sale of Park EdgeApartments. The 15 year old building contains 32 units consisting of studio, one bed- room and two bedroom apart- ments. The two story property includes on-site parking and was fully leased at the time of sale. The buyers consisting of a partnership of international investors, made a substan- tial cash down payment and financed the balance with a seven year non recourse mort- gage. According to Oren, the key to the transaction was to structure a return on invest- ment that would appeal to the buyers while providing the owners an acceptable price. NMRG is a partnership be- tween Avi Oren, Alan Lieber- man and Ron Cohen who com- bined have over 60 years of experience selling multi family properties encompassing thou- sands of units in NJ. ■

50 North Clinton Avenue

3 Hamilton Health Place

by Garcia Realtors. Richardson Commercial Re- altors announced the lease of 5,117+ s/f of recently renovated space in the RWJ University Hospital Hamilton campus to Hamilton PediatricAssociates (HPA). HPAmade the move to the hospital campus to better serve their patients and to

take advantage of an excel- lent location for a pediatric office. It’s no coincidence that their arrival on the campus coincides with the opening of the pediatric emergency room at the hospital. Linda Gilbert, practice manager said, “Richardson guided us through the entire

process step by step. We felt we were in good hands from start to finish.” Lakeview Child Center is an affiliate of Robert Wood Johnson University Hospi- tal Hamilton and leased the space to HPA. It opened in 1985 and operates a network of seven child care centers

throughout central New Jer- sey. Skip Cimino, president & CEO of RWJ Hamilton said, “Any hospital would be lucky to have Hamilton Pediatrics in their backyard. We’re very fortunate to have them on our campus. The space they out- fitted is well suited to serve their patient’s needs.” ■

Diversified Capital adds new amenities

32 units in Berkely Heights NewMarket Realty Grp. sells apartments for $90k per unit

As part of the renovations, the refurbished Art Deco lobby (pictured here) will be entirely ADA-accessible, with 24/7 access, a manned guest reception and a new, state-of-the-art electronic directory.

NEWARK, NJ —Diversified Capital has added a broad suite of new tenant ameni- ties being implemented at 24 Commerce St., the former Federal Trust Bank building in downtown Newark. These new amenities, along with the $5 million building renovations, are part of the company’s over- all investment in the historic office structure, which rises

18 stories and encompasses a total of 180,000 s/f. The landmark building will now provide enhanced conve- niences to its roster of profes- sional and corporate tenants. The refurbishedArt Deco lobby will be entirelyADA-accessible, with 24/7 access, a manned guest reception and a new, state-of-the-art electronic direc- tory. A shared conference suite

Park Edge Apartments

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