MARE journal.com
Mid Atlantic Real Estate Journal — New Jersey — January 13 - 26, 2012 — 27
N EW J ERSEY
Hartz’s Lincoln Harbor to offer “The Estuary” in Weekawken game center.
Manulife RE enters NYC metro real estate market Cushman & Wakefield arranges $285 million sale
WEEKAWKEN, NJ — New Jersey’s Gold Coast will soon boast The Estuary, a new 589- unit residential complex on the waterfront inWeehawken. Hartz Mountain Industries, which has owned the property on the waterfront since 1981, will partner with Roseland Property Company on the $200 million project that will include three buildings sur- rounding a beautiful courtyard space. In addition to beautiful city views and easy access to Man- hattan via ferry, The Estuary will set a new standard in luxury rental amenity features with a rooftop deck and pool, golf simulator, hot tub, fire pit, fitness room, yoga room, children’s playroom, and Wii
“Lincoln Harbor is the ulti- mate Hudson waterfront loca- tion for renters-by-choice who want all the amenities they can get within view of Manhattan without being in Manhattan,” said Carl Goldberg, managing partner for Roseland Property Company. “The lifestyle differ- ences in New Jersey are seen by many renters as advantages for which they pay less – they get rewarded twice in one location selection.” “New Jersey’s growing water- front communities are depen- dent on and perfectly compati- ble with the improved condition of the Hudson River,” says Mr. Goldberg. “The Estuary will be the hallmark of a place whose time has come. ■
ERSEY CITY, NJ — Cushman &Wakefield’s Metropolitan Area Cap- ital Markets Group (CMG) has orchestrated the sale of 10 Exchange Pl. The 748,005 s/f building is a 30- story trophy office tower. The Cushman &Wakefield team of Andrew Merin, Da- vid Bernhaut, Gary Gabriel, Brian Whitmer and Kyle Schmidt represented the seller, a client of INVESCO, in the transaction. The buyer was Manulife Real Estate. J LINDEN, NJ — The Hampshire Companies in a joint venture with Tulfra Realty Company, LLC, has announced the disposition of a 36,000 s/f industrial building located at 1901 East Linden Avenue in Linden, N.J. The sale was made to Joma Realty, LLC. Ideally situated at Exit 13 on the New Jersey Turnpike, 1901 East LindenAvenue of- fers easy access to the Port of NewYork/New Jersey and Linden, Rahway, Elizabeth and Newark labor markets. At the time of the sale, the building was 100% occupied by a variety of small tenants ranging in size from 1,440 s/f to 4,320 s/f. “The property’s excellent location and history of occu- pancy made this an attrac- tive offer for the buyer,” said ToddAnderson, a Principal of The Hampshire Companies. “With no vacancy and easy access to nearby major high- ways, the property fully accommodated the buyer’s need for stable cash flow and the potential to sell the units as condos to the existing ten- ants in the future”. Kristin Hanson and Sonny Jumani represented The Hampshire Companies and Tulfra Realty in the trans- action, while the buyer was represented by Ben Sgamba- ti andAlan Cafeiro of Marcus & Millichap. ■ TheHampshireCos. and Tulfra Realty sell 36,000 s/f LEED-Gold and Energy
Star certified, the iconic tow- er offers unobstructed views of lower Manhattan from every floor. The 100 % leased building has a tenant roster that includes renowned in- ternational companies such as ACE Insurance, Daikin McQuay, Kuehne + Nagel, Rabobank, Bank of America, Goldman Sachs andAmazon. com. 10 Exchange Place sits atop the most comprehensive mass-transit infrastructure in the region, offering direct access to PATH rail to New York City, as well as light rail, bus and ferry service. ■
10 Exchange Pl.
2011 Leasing Totals: 99.8% Occupied 3,647,365 SF Leased Heller Industrial Parks
Leasing for less in Central Jersey. Huge Foreign Trade Zone Energy Efficient Warehouse Lighting 60% Lighting Bill Reduction 20% Solar Energy Electric Rebates Subsidized Daycare
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