18B — October 11 - 24, 2019 — New Jersey — M id A tlantic
Real Estate Journal
www.marej.com
N ew J ersey
Brad Jacobs & Tamara Blau represesnt seller The Blau & Berg Co. brokers sale of ±56,800 s/f flex space
Hampshirebreakground on self storage facility
OUTH PLAINFIELD, NJ — The Blau &Berg Company brokered the sale of a ±56,800 s/f office/flex property on South Clinton Ave. in South Plainfield, to JL International Realty, Inc. , a prominent investment company. Brad Jacobs and Tamara Blau of The Blau & Berg Company represented the seller and Scott Savas- tano of The Blau & Berg Com- pany represented the buyer in this transaction. “The property is located in a great area along the I-287 corridor servicing both indus- trial and small office tenants. The building has been well maintained by the sellers and it is the buyer’s intention to maintain the same quality of service,” said Scott Savastano, director of capital markets for S MOUNT LAUREL, NJ — Ian Richman and Marc Isdaner of Colliers Inter- national’s Mount Laurel of- fice were the sole brokers in the sale of 6910-6930 Central Hwy., which is a 58,000 s/f warehouse, to 6910-30 Central Highway, LLC for the sale price of $3.683 million. The buyer, Heat Makes Sense Inc., is a fast-growing hair care and tool manufac- turer. This was the second local building the Colliers team has sold to Heat Makes Sense in as many years. CARLSTADT,NJ — Shawn Roth and David Cantor , along with Greg Sholom of TeamResources consummat- ed a lease of 26,430 +/- s/f at 75 Triangle Blvd. in Carlstadt to Josmo Shoes. This single story building features three loading docks, 1 Drive-In door and 18’ ceilings. “Due to their growing customer base, Josmo needed to expand their warehouse while staying in close proxim- ity to their existing 35,000+ s/f building in Moonachie. With 75 Triangle being positioned in the heart of the Meadowlands, this convenient property serves as a strategic location for Josmo as a secondary warehouse to continue servicing the Tri-State area market efficiently while also staying in close proximity to their West New York head- quarters,” said Shawn. Team Resources represented the ten-
141 US-206 in Hillsborough rendering
limited to set hours or through scheduled times, helps manage the expectation that a facil- ity manager is not necessarily available every hour of every day. Also, a facility manager should recognize the end user’s level of expertise in redesign and construction, and have a system in place to manage the expectation of instantaneous results. Good things take time! With set targets for progress, and a plan ahead of time, any unrealistic expectations will be eliminated. At HF Planners, LLC, we have an adept team that goes above and beyond managing expectations and finishing projects beyond satisfactory. HF Planners can alleviate the facility manager’s headaches by assisting them throughout, or even ultimately taking over these tasks. In the modern world of communication, a fa- cility manager should be able to manage the expectations successfully throughout the entirety of any project! Find out more today! Jamie Gutkin is a market- ing assistant at HF Plan- ners, LLC. “The self-storage sector has seen a significant uptick in in- vestment over the past several years as investors realize the relative stability of the asset class,” said Michael Legacki, senior acquisitions manager for Hampshire. hold income, growing popu- lation density, and a lack of modern self-storage options, as well as a prime location along one of the most heavily traveled retail corridors in the neighboring area. With an estimated comple- tion date of February 2020, the facility will provide an underserved market with an institutional quality asset of- fering a range of self-storage options across 903 state-of- the-art, climate-controlled units. Extra Space Storage, a leading self-storage REIT, will manage the modern 120,524 square foot facility.
space and now the expectations might be too high. A skilled facility manager will know the scope of the project and clearly plan for the budgetary restric- tions or liberties, and relay the plans to the end user accord- ingly. Open communication between the facility manager and end user during all phases of design and construction helps keep the unrealistic ex- pectations in check. A facility manager should be skilled at planning accordingly and keep- ing all parties involved aware of the benchmarks. In order to correctly coordinate the facility planning, the facility manager must conclude exactly what the expectations are in the final outcome. The design style of the facility manager’s team has to coincide with the expected style of the end user. Managing expectations in the modern world of technology can be a new type of accomplish- ment to overcome. However, with some skill and knowledge, the expectations can be man- aged on both sides with realistic outcomes. Knowing that con- stant communication has to be HILLSBOROUGH, NJ — The Hampshire Companies (Hampshire) and Harrison Street announced that con- struction has commenced on a new, high-quality self-storage development located at 141 US-206 in Hillsborough. The Hillsborough project marks the second ground up devel- opment project under Hamp- shire’s and Harrison Street’s joint venture, which seeks to develop modern, institutional- quality self-storage facilities in strategic locations along the I-95 corridor from Florida to New England. The first project in Providence, RI broke ground in the first quarter of 2019 and is slated for comple- tion by year end 2019. The site was selected due to the combination of factors needed for a successful self- storage development project, including high median house-
4475 South Clinton Ave.
The Blau & Berg Company. “The Buyer’s investment cri- teria required a stabilized rent roll with upside. This investment offered a strong cap rate with the opportunity to increase the net operating income as the tenancy rolls over in the near future.”
Located on the corner of South Clinton and Hamilton Boulevard between exits 4 and 5 on I-287 and featuring ±44,600 s/f of industrial and ±12,200 s/f of office space, the property is in a prime, acces- sible location for office, indus- trial and flex space users.
Richman & Isdaner of Colliers International’s Mount Laurel office completes 58,000 s/f sale
continued from page 10B Managing expectations in themodern . . .
6910-6930 Central Hwy.
Team Resources negotiates 26,430 +/- s/f lease in Carlstadt
75 Triangle Blvd.
ant in this transaction, while Bussel Realty represented the landlord. Steve Ulin brokered a lease of an 11,600 +/- s/f warehouse property at 213 King St. in Hackensack to Grisini on the Go. “Grissini operates a num- ber of coffee shops/food halls
in the New York Metropolitan area. Their newest opening is scheduled for October at the long awaited American Dream mall and entertainment com- plex in East Rutherford. This facility is primarily intended to supply Grissini’s new location, said Ulin.
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