Real Estate Journal — August 25 - September 14, 2017 — 3A


M id A tlantic

M id A tlantic R eal E state J ournal Brisk sales and leasing activity in four states Kislak reports strong activity in first half of 2017


Eastern PA • $54 million sale of a 502,0000 s/f office portfolio in Cleveland, OH • $45.5 million sale of a 410-unit multifamily portfolio in Passaic County, NJ • $41.25 million sale of a 230-unit multifamily prop- erty in Northampton County, PA • $20 million sale of a 180,000 s/f office building in Bristol, PA; • $19.5 million sale of a 180-unit multifamily prop- erty in Bucks County, PA • $18 million sale of a 120-

unit portfolio in East Orange, NJ • $17.2 million sale of a 144- unit multifamily property in Lancaster, PA • $13.7 million sale of a 124- unit multifamily property in Victory Gardens, NJ; • $12.5 million sale of a 195- unit multifamily property in Pennsville, N.J.; • $8.85 million sale of a 46- unit multifamily property in Cranford, NJ • $8.5 million sale of a 53- unit multifamily property on Staten Island, NY. Notable commercial leasing

and sale transactions com- pleted in the first half of 2017 include the: • $3.7 million sale of a 44,000 s/f warehouse in Branchburg, NJ • $3.2 million sale of an office building in Wayne, NJ • $2.94 million lease of an office space in the Newport section of Jersey City, NJ • $2.5 million lease of a warehouse/flex building in Warren, NJ • $1.3 million sale of a former school in downtown Jersey City, NJ • $827,000 sale of a commercial

building in Whippany, NJ • $740,000 sale of a ware- house in North Bergen, NJ • $770,000 sale of industrial land in Linden, NJ. The Kislak Company, Inc., which is headquartered in Woodbridge, NJ, is a com- mercial real estate brokerage consistently recognized for its investment sales success. Now in its 111th year, Kis- lak was among a select group of firms recognized as a 2016 Power Broker by CoStar Group, Inc. and this was the firm’s eleventh consecutive recognition. n

OODBR I DGE , NJ — The Kislak Company, Inc. re-

ported strong investment s a l e s a n d commercial s a l e s a n d leasing activ- ity through t h e f i r s t half of 2017 closing 107 transactions in New Jersey, New York, Pennsylvania and Ohio. Kislak’s total transaction volume exceeded half a billion dollars and included the sale of 2,500 residential units and 1,000,000 s/f of office, retail and industrial properties and the leasing of 122,000 s/f of office and retail space. “The first six months of the year were very strong for Kislak with a record number of closings, more than one every other day,” said Rob- ert Holland , president. “The multifamily market remains very strong throughout the U.S. with demand far exceed- ing supply. I expect this trend to continue as multifamily remains the preferred asset class nationwide. And we are experiencing strong growth in the New Jersey commer- cial markets with increased demand from investors and users.” “We are experiencing un- precedented growth in our core Northeast and Mid-At- lantic markets for the fourth consecutive year,” said Jason Pucci, chief operating officer. “On a year-over-year basis, our closed transaction count is up 65% and our sales volume has nearly doubled despite low inventory in certain sub- markets and interest rate fluctuations, which impact all of our sales. Our team is doing an outstanding job.” Peter Wisniewski , ex- ecutive vice president of Kis- lak’s commercial team, noted, “Leasing and sale activity of warehouses and commercial properties has gotten very strong. In fact, we are seeing more build-to-suit leases and land acquisitions by users for development with little avail- able, modern product in the market right now.” Notable investment sales transactions completed in the first half of 2017 include the: • $82 million sale of a 700- unit multifamily property in Robert Holland

Transactions totaling more than 35,000 apartments $3 billion

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92 River Road • 908.988.1000 Principals: Marc S. Solomon and Mark S. Rosen Summit, NJ 07901 • Solomonorg.com •


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