4B — August 12 - 25, 2016 — New Jersey — M id A tlantic

Real Estate Journal


N ew J ersey Henderson, senior associate at WCRE represents the buyer WCRE facilitates sale of major class “A” investment property in Westmont, NJ

in its acqui- sition of 222 Haddon Ave. in Westmont. The new own- ership group p u r c h a s e d t h i s t h r e e story 27,000 s/f multi-ten- W

ESTMONT, NJ — WCRE represented FMP Haddon, LLC

ing provides the new owner- ship with a quality asset in a premier location that pro- vides immediate access to the PATCO high speed line and is within close proximity to Phila- delphia and the Cherry Hill business district. The walkable surrounding neighborhood is home to numerous amenities, including banks, restaurants, and retailers. “Our buyer was seeking a long-term income producing property with quality tenants. A deal of this size may be a good indicator that Central New Jer- sey is an attractive market for institutional-level investors,

and a sign that lenders are still bullish on stabilized assets in quality markets,” said WCRE’s Henderson. TD Bank and Brown & Con- nery, LLP are key tenants in the building. n AlexanderAnderson to develop 24-Unit mixed-use property in Hackensack

Chris Henderson

anted mid-rise office building fromLawland Associates, LLC. Chris Henderson , senior as- sociate at WCRE represented the buyer in this transaction. This well located office build-

222 Haddon Ave.

76 Main St.

HACKENSACK, NJ — Alexander Anderson Real Estate Group has received planning board approval from the City of Hackensack to develop a 24-unit, mixed- use property. The property will be developed at 76 Main St., a site where a three-story residential building and res- taurant burned down in April 2015, as part of the City’s Main St. redevelopment plan. According to Eric Ander- son , CEO of Alexander An- derson, “This new develop- ment will be a cornerstone of the Main St. redevelop- ment plan and attract new residents and retail tenants to the area. We are already seeing heightened interest by residents and retail tenants alike in the special improve- ment district. “ The planned, six-story building will feature 4,207 s/f of retail space on the ground floor and first level, and six one-bedroom apartments ranging from 621 to 801 s/f in size will be located on floors two through five. The sixth floor will consist of a lounge area with a bar and rooftop deck for tenant use. “Alexander Anderson has had a long-standing pres- ence in Hackensack, the County seat, where so many of the state’s premier service providers and a nationally- recognized hospital system have found a home,” noted Anderson. “Our vision is to turn the area into a state- of-the-art lifestyle and com- merce destination reminis- cent of its popularity during the 1930s and 40s.” n

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