Real Estate Journal — June 13 - 26, 2014 — 1A www.marejournal.com

www.marejournal.com Inside Cove A — September 13 - 26, 2013 — Mid Atlantic Real Estate Journal

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C ommercial R eal E state O rganizations ’ E vents C alendar

JUNE 17 – USGBC NJ Event: Design Sustainable & Energy Efficient Building by America Training Solutions Time: 7:30 AM – 5:00 PM Location: Hilton Newark Penn Station Address/City: 1048 Raymond Blvd., Newark, NJ Cost: $65 Members $90 Nonmembers www.usgbcnj.org JUNE 18 – NJAMB Event: Annual Golf Outing Time: 11:00 AM Location: Beaver Brook Country Club Address/City: 25 Country Club Dr., Annandale, NJ P: 908-852-2498 E: emcedeno@mbanj.com www.njamb.org JUNE 18 – ULI PHILADELPHIA Event: Inaugural Awards for Excellence Time: 5:30 PM – 7:30 PM Location: The Ballroom at the Ben Address/City: 834 Chestnut St., Philadelphia, PA P: 215-446-2930 E: erin.nardini@uli.org www.philadelphia.uli.org JUNE 18 – USGBC NJ Event: Emerging Professionals 2nd Annual Summer Kick-off Happy Hour Time: 5:30 PM Location: Surf City Address/City: 1 Marin Blvd., Jersey City, NJ P: 973-290-0013 E: info@usgbcnj.org www.usgbcnj.org JUNE 19 – CREW PHILADELPHIA Event: Mugshots For Members Time: 5:00 PM – 7:00 PM Location: Atrium at BNY Mellon Center Address/City: 1735 Market St., Philadelphia, PA Cost: $65 Members www.crewphiladelphia.org JUNE 19 – DVGBC Event: Delaware Meet & Mingle Happy Hour Time: 5:30 PM – 7:30 PM Location: Firestone Address/City: 110 South West St., Riverfront, Wilmington, DE P: 215-399-5790 E: info@dvgbc.org www.dvgbc.org JUNE 19 – NAIOP PITTSBURGH Event: Chapter Meeting “Finance Update” Time: 7:30 AM Location: Omni William Penn Hotel Address/City: 530 William Penn Pl., Pittsburgh, PA Cost: Members Free/$40 Nonmembers P: 412-928-8303 E: info@naioppittsburgh.com www.naioppittsburgh.com

JUNE 19 – SMPS PITTSBURGH Event: SMPS/AMA Joint Summer Mixer

JUNE 26 – CORENET NJ Event: Summer Social Time: 5:30 PM – 7:30 PM Location: Trump National Golf Club Address/City: 900 Lamington Rd., Bedminster, NJ Cost: $125 Members $150 Nonmembers P: 973-771-5201 E: newjersey@corenetglobal.org www.corenetglobal.org JUNE 26 – CREW NJ Event: Cocktail Reception Time: 6:00 PM – 8:00 PM Location: Liberty House Address/City: 76 Audrey Zapp Dr., Jersey City, NJ Cost: $90 Members $115 Guests JUNE 26 – IREM DELAWARE VALLEY 3 & NJ 101 Event: Annual Joint Meeting & Networking Event Time: 5:00 PM – 8:00 PM Location: The Camden County Boathouse at Cooper River Park Address/City: 7050 N. Park Dr., Pennsauken, NJ Cost: $65 Members $75 Nonmembers P: 856-786-9260 www.irem3.org P: 609-585-6871 www.icrewnj.org

Time: 5:30 PM – 7:30 PM Location: Hard Rock Café Address/City: 230 W. Station Square Dr., Pittsburgh, PA Cost: $25 Members $35 Nonmembers E: mlen@triadeng.com or jkilgore@singletonconstruction.net www.smpspittsburgh.org JUNE 20 – CIANJ Event: BIG Presents: Creating the Ideal Building or Office Time: 8:00 AM – 9:30 AM Location: CIANJ Address/City: S. 61 Paramus Rd., Ste. 200, Paramus, NJ P: 201-368-2100 www.cianj.org JUNE 22 – CREW PITTSBURGH Event: Members Summer Picnic Time: 12:00 PM – 8:00 PM Location: Schenley Park – David Lawrence Pavilion JUNE 23 – IOREBA Event: 45th Annual Golf & Tennis Outing Time: 11:00 AM Location: Essex County Country Club Address/City: West Orange, NJ www.ioreba.com JUNE 23 – USGBC NJ Event: 11th Annual Golf Outing Time: 11:30 AM – 8:00 PM Location: New Jersey National Golf Club Address/City: Allen Road, Basking Ridge, NJ P: 973-290-0013 E: info@usgbcnj.org www.usgbcnj.org JUNE 25 – MID ATLANTIC REAL ESTATE JOURNAL Event: NJ Commercial Real Estate Forecast Summit Time: 7:30 AM – 12:00 PM Location: Brookdale Country Club Address/City: Florham, NJ P: 800-584-1062 E: lchristman@marejournal.com www.rejournals.com/newjersey JUNE 25 – CIANJ Event: Breakfast with NJDEP Commissioner Bob Martin Time: 7:30 AM – 10:30 AM Location: Pines Manor Cost: Free-Members Only E: admin@crewpittsburg.org www.crewpittsburgh.org

JUNE 26 – ULI BALTIMORE Event: Bay Tour – Blackwall Hitch

Time: 5:30 PM – 8:00 PM Location: Blackwall Hitch Address/City: 400 sixth St., Annapolis, MD P: 443-824-4246 E: lisa.norris@uli.org www.baltimore.uli.org

JUNE 30 – CIRC Event: Annual Golf Outing Time: 10:00 AM

Location: Hartefeld National Address/City: Avondale, PA Cost: $45/Dinner $145/Golfer P: 302-633-1705 E: janet@circdelaware.org www.circdelaware.org JULY 18 – NAIOP NJ Event: Community Action Volunteer Day at Community Food Bank of NJ Time: 9:30 AM – 3:00 PM Location: Community Food Bank of NJ, Hillside

Address/City: 2085 Route 27, Edison, NJ Cost: $80 Members $100 Nonmembers P: 201-368-2100 www.cianj.org

P: 732-729-9900 www.naiopnj.org

JULY 28 – CORENET/NAIOP Event: Golf Outing Time: 10:00 AM Location: Green Valley Country Club

JUNE 25 – ULI PHILADELPHIA Event: Hard-Hat Tour of Camden’s New Kroc Center Time: 8:00 AM – 10:00 AM Location: Kroc Community Center Address/City: 1865 Harrison Ave., Camden, NJ P: 215-525-4977 E: gerri.lipp@uli.org www.philadelphia.uli.org

Address/City: 201 W. Ridge Pike, Lafayette Hill, PA P: 267-428-6434 E: philadelphia@corenetglobal.org www.corenetglobal.org

S hopping C enters N ew J ersey

Real Estate Journal — New Jersey — Section B


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Berkadia provides financing for 110-unit complex Kislak completes $7.65 million sale of Mapleview Apartments in Merchantville, NJ


apartments and 84 two-bed- room apartments. The prop- erty includes new kitchen cabinets and appliances and presented upside potential upon completion of unit reno- vations to increase revenue. The property is located a short walk to downtown Merchant- ville, minutes fromCherry Hill Mall, less than one mile away from Rte. 38 and near Rte. 70, and a bus stop is in front of the property. “The market for multifamily properties remains very strong

lheimer. “The solid rental market and professionally managed building enabled us to market it widely and iden- tify the right purchaser.” “This is the purchaser’s first transaction with Kislak,” said Keenan. “I am pleased that I represented the purchaser in their largest acquisition to date and look forward to working together again in the future.” Financing was provided by Berkadia . The seller was rep- resented by Leon D. Dembo, Esq. of Dembo & Saldutti LLP of Mount Laurel, New Jersey. The purchaser was represented by James R. Lisa, Esq. of Jersey City, New Jersey. At the time of closing, the property was 98% occupied. n

ERCHANTVILLE, NJ — The Kislak Company, Inc. an-

nounced the $7.65m sale of Mapleview Apartments, a 110-unit multifamily complex in Merchantville. Senior vice president Matthew Weil- heimer represented the seller and vice president Joseph Keenan represented the pur- chaser. Mapleview Apartments is an all-brick, well landscaped property with on-site parking. It includes 26 one-bedroom


properties in and around the area given its close proximity to Philadelphia, the lack of availability properties, high occupancies and increasing rents.” “The seller engaged us on an exclusive basis,” said Wei-

throughout New Jersey,” said Robert Holland , president and co-managing director. “The local area, which includes Cherry Hill, is a strong Phila- delphia submarket and we noticed a marked increase in demand among investors for


JUNE 13 - 26, 2014


Scott and Lou Belfer represent Van Dyke Associates CBRE handles 173,746 s/f renewal & expansion lease in New Brunswick, NJ

Prestige Group sells twelve apartment units for $692,500

NEW BRUNSWICK, NJ — CBRE Group Inc. , one of New Jersey’s largest commer- cial real estate brokerage firm, announced the completion of a 173,746 s/f industrial renewal and expansion lease at 14 Van Dyke Ave. and 20 Van Dyke Ave., in New Brunswick. The CBRE team of Scott Belfer and Lou Belfer , se- nior vice presidents, repre- sented the landlord, Van Dyke Associates, LLC , in the transaction. The tenant, Prime Source Building Prod- ucts, renewed and expand- ed its lease at the property, which will continue to serve as the company’s northeast distribution hub and provide storage space. Prime Source Building Prod- ucts renewed 84,824 s/f of space at 20 Van Dyke Ave. and expanded into 88,922 s/f of space at 14 Van Dyke Ave. The company decided to renew its lease due to the additional outside storage available at the building complex. In addition to this feature, the location is also valued for its proximity to

Prestige Group, Inc. was responsible for the sale of “Smith Lane Apart- ments”, a 12 unit multi- family property in Runne- mede . See page 2B .

Colliers International arranges $6.85millionsaleof 330,000 s/f

Colliers Internation- al has arranged the sale of the 330,000 s/f Morris Business Campus at 1000, 1100, and 1200 The Ameri- can Rd. in Morris Plains. See page 5B


14 & 20 Van Dyke Ave.

Northern NJ Spotlight.............................5-11B NJ CRE Summit Forecast....................13-BCB ICREW NJ......................................................20B

contributed to the tenant’s decision to stay in place in the New Brunswick location,” said Scott Belfer. “The property was also able to accommodate the tenant’s desire to expand its in- dustrial footprint, which sealed the deal in this transaction.” n

major highways, such as the New Jersey Tpke. and Rte. 1, plus the ability for tenants to expand their operations within the campus. “The location of these ware- houses, in addition to the price offered by the landlord, greatly


Inside Cover B — June 13 - 26, 2014 — New Jersey — M id A tlantic

Real Estate Journal




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50,422 SF – Raritan Center, EDISON 7,000 SF Ofc, 21 ’ Clgs, 6 TB, Racked, Food Grade Bldg w/Freezer & Cooler Space

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300,000 SF – CARTERET 10,000 SF Ofc, 24’ Cl gs, 13.79 Acres 32 Crossdock TB


For Additional Listings or Information Check Us Out On The Web: H

Bussel Realty Corp. 2 Ethel Road, Suite 202 A, Edison, NJ 08817

(732) 287-3777 / Fax (732) 287-1090 / brcorp@bussel.com / www.bussel.com The information herein has been obtained from sources deemed to be reliable, but no guarantee of its accuracy is made by the Company. In addition, no representation is made respecting measurements, dimensions, zoning, condition of title or any matters of a legal or environmental nature. Such matters should be referred to legal counsel for determination. Subject to errors, omissions or withdrawal without notice.

Real Estate Journal — New Jersey — June 13 - 26, 2014 — 1B


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2B — June 13 - 26, 2014 — New Jersey — M id A tlantic

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N ew J ersey

Fairfield Corporate Park, Fairfield, New Jersey

Vice president Kaplan handles entire transaction Prestige Group sells twelve apartment units for $692,500


UNNEMEDE , NJ — Richard Natow , president of Prestige

FOR LEASE 32,000 Square Foot Industrial Building

Group, Inc. announc ed tha t Pr e s - tige Group, Inc. was re- s p o n s i b l e for the sale o f “ Sm i t h Lane Apart- ments”, a 12

* Warehouse/Manufacturing * 6,000 Square Feet Office – Can be reduced * 20 Ft Ceiling Height / 4 Tailgate Doors / 60+ Car Parking * Attractive rental rates and terms available.

SHELDON GROSS REALTY, INC. REALTORS ● Corporate Real Estate Services 80 Main Street, West Orange, NJ 07052 Tel.#973-325-6200 - Fax.#973-325-9090 E-mail: sgross@sheldongrossrealty.com

Victor Kaplan

unit multifamily property in Runnemede. The address is 40-44 Smith Ln., which is lo- cated in Camden County. Smith Lane Apartments consists of three brick and sid-

Smith Lane Apartments

a section of the Mid Atlantic Real Estate Journal P.O. Box 26, Accord, MA 02018 781-871-5298 • 800-584-1062 fax 781-871-5299 www.marejournal.com New Jersey Real Estate Journal Kaplan said, “This property was in excellent condition! Eleven of the twelve units had been recently renovated. The buildings have electronically monitored smoke detection systems. The vinyl siding is capped and in great condition making the exterior of the building practically mainte- nance free! The parking lot had been newly sealed and striped. This was very attrac- tive to the Buyer as they are local multi-family owners.” Kaplan said, “The seller was very satisfied with the sale of the property. The settlement process went very quickly! It took just three weeks. It was a cash transaction. And the cur- rent New Jersey State Green Card was beneficial also.” n ment building was purchased by a local investment company for $ 692,500. The seller was “IO, LLC”. Prestige Group was respon- sible for the listing and sale side of this transaction. Vic- tor Kaplan , vice president, handled the entire transaction from marketing the property for sale, contract negotiations through to a successful settle- ment.

ing buildings each consisting of four, one bedroom apart- ments. The buildings are built in a colonial style. The apart-

Section Editor Julie King editor@marejournal.com




Real Estate Journal — New Jersey — June 13 - 26, 2014 — 3B


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N ew J ersey

Celebrating over 20 years of Engineering Excellence!

S Demetsky of Jones Lang LaSalle represents seller Bussel brokers sale of 102,108 s/f industrial facility in NJ OUTH BRUNSWICK, NJ — Bussel Realty Corp. (BRC) , an indus-


trial real estate services firm in New Jersey, announced it has brokered the purchase of 138 Georges Rd. in South Brunswick, a 102,108 s/f indus- trial facility. The property was purchased by Modway East End Imports for an undis- closed amount from LIT In- dustrial Limited Partnership, a Clarion Partners property. Senior vice presidents David Posner , Robert Sager and David Blitt of BRC repre- sented the purchaser. Clarion Partners was represented by Nate Demetsky of Jones Lang LaSalle . “The Georges Road purchase is a good fit in Modway’s stra- tegic growth plan, offering flex- ibility for the innovative fast growing company,” said Blitt. Sitting on 19 acres of land, KRE Group renos. Bridgewater office building BRIDGEWATER, NJ — KRE Group , a privately held real estate company in New Jersey, announced that it has completed renovations at 991 Rte. 22, a class A office build- ing in Bridgewater. The newly-upgraded 41,975 s/f building now includes a full-service café for tenants and a completely renovated lobby. New carpet, wallpaper and furniture added to the lobby bolster the modern at- mosphere of the building. The renovation was part of a proactive, portfolio-wide ef- fort by KRE Group to improve and modernize its commercial buildings, allowing the ser- vices and amenities to grow as tenants’ businesses develop and their needs evolve. “The recent renovation pro- gram executed at 991 Rte. 22 demonstrates KRE’s commit- ment to attracting and retain- ing high-quality commercial tenants,” said Justin Ginge- leskie , director of leasing for KRE Group. n

Subsurface Investigations • Construction Inspection and Testing Geotechnical Design & Analysis • Environmental Site Assessments and Remediation • Clean Fill Testing • Carbonate Site Assessments Stormwater Infiltration Testing • Laboratory Soils Testing www.earthengineering.com Corporate Headquarters: 610-277-0880 • Lehigh Valley: 610-967-4540 Central PA: 717-697-5701 • South Jersey: 856-768-1001

138 Georges Rd.

138 Georges Rd. is a 102,108 s/f warehouse which features high 25’ ceilings, 40’ by 50’ column spacing, eight loading docks and one drive-in door with 2,108 s/f of office space. The property offers ample parking and plenty of acreage

for expansion. Strategically located near Route 130, the New Jersey Tpke. at Exit 8A and Rte. 1, 138 Georges Rd. provides immediate access to points north and south and is equidistant between Boston and Washington DC. n


Dominance: “...most inuential, having a commanding position.” (Webster’s) New Jersey’s dominant brokerage rm specializing in the sale of multi-family, retail, and commercial investment properties for private investors, REITS, and other institutional clients.

RECORD Q1 2014 34 Closings!! 1,957 Units $121,057,500


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Visit us on the web at: www.gebroehammer.com Email: info@gebroehammer.com

4B — June 13 - 26, 2014 — New Jersey — M id A tlantic

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N ew J ersey


N J & PA

R e a l E s t a t e B r o k e r a g e a n d A d v i s o r y F i r m

V WCRE announces lease deals & property availabilities WCREretainedtosell 52,466s/f Glendale Executive Campus OORHEE S , N J — Wolf Commer- cial Real Estate

focus integrity quality

Landlord Representation Tenant Representation Investments Property Management

(WCRE) recently consum- mated two lease transactions of note, and is announcing the availability of two significant new listings for tenants and investors. The South Jersey team exclusively represented a subsidiary of The Rothman Institute, RI Greentree As- sociates, LLC in the leasing of 2,200 s/f of medical office space to Labcorp. This class "A" medical office space lo- cated at 999 Route 73 in Marlton is a landmark prop- erty and location that is also

Research & Marketing Information Corporate Real Estate Representation Appraisal & Advisory Services Construction Services


Glendale Executive Campus 1000 White Horse Rd., Voorhees, NJ


home to Rothman Institute and Rothman Orthopaedic Urgent Care. The Rothman Institute ownership entity acquired this trophy building from

Brandywine Realty Trust in 2011, and recently com- pleted major renovations to the interior and exterior. With the completion of this lease, this multi-tenanted property is now 95% leased, JasonWolf and Leor Hemo of WCRE teamed up to repre- sent both landlord and tenant on this transaction. In another major tenant representation assignment, WCRE represented Univer- sal Hospital Systems (UHS) in the leasing of 18,000 s/f of premier warehouse space located at 8000 Commerce Parkway in Mount Laurel. This location provides easy access to Route 73, and is within close proximity to I-295 and the New Jersey Turnpike. Hemo and Todd Levin of WCRE teamed up with Fisher & Company to successfully complete this transaction. This property is now 100% leased. WCRE is proud to have earned new exclusive leasing assignments of the Heritage Office Complex and Heritage Square Shopping Center, an office and shopping center situated in a park-like setting on Route 70 in Cherry Hill. This complex was acquired by Heritage Office, LLC in 2013. Finally, WCRE has been retained by SJS Realty Management to sell the Glendale Executive Campus located in the rapidly rede- veloping heart of Voorhees. This investment opportunity comprises 52,466 s/f in nine garden-style buildings spread over 5.61 acres. The campus is 74% leased, with 24 current tenants. It is conveniently located in a retail corridor ex- periencing an expansion, with abundant retail, restaurants, banks, professional offices and other amenities nearby. It features easy access to I-295 and the New Jersey Turnpike. Wolf and Hemo are the WCRE team on this project. n



951Route73North l SuiteD l Marlton,NJ08053 l P. 856 857 6300 F. 856 283 3950

1,600,000 SF

To Be Built Dayton, NJ (732) 287-4880

Lease with the

Market Leader

205 Mill Road, Edison NJ 08837 (732) 287-4880

S hopping C enters N ew J ersey S potlight N orthern

Real Estate Journal — New Jersey — June 13 - 26, 2014 — 5B


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JMF Properties Group purchases the property Colliers International arranges sale of 330,000 s/f Morris Business Campus for $6.85 million


keting approach we engaged more than half a dozen active bidders through an auction platform to achieve this great result.” “The property is currently zoned as light industrial, but presents a wealth of reposi- tioning opportunities,” said Joseph Forgione , founder and principal of JMF Proper- ties Group. “We are thrilled to add this asset to our in- creasingly diverse portfolio, which includes multifamily residential developments and shopping centers anchored by tenants like Whole Foods, BJ’s, Ulta Cosmetics, and Chase Bank.” The Morris Business Cam- pus is conveniently located two miles from Interstates 287 and 80, and is 45-minutes away from New York City. Morris Plains is situated between Parsippany and Mor- ristown, and touts numerous shops and restaurants. n

ORRIS PLAINS, NJ — Colliers In- ternat ional has

arranged the sale of the 330,000 s/f Morris Business Campus at 1000, 1100, and 1200 The American Rd. in Morris Plains for $6.85 mil- lion. The multi-tenant office building was sold to local real estate investor and developer JMF Properties Group . The Morris Business Cam- pus encompasses more than 28 acres of land and is com- prised of three interconnect- ed class B office buildings that were renovated in 2001. Building amenities include a glass atrium entrance, fit- ness center, and full-service cafeteria. The rear of the property features a walkway with direct access to the Mor- ris Plains train station. “Our marketing strategy targeted investors and de- velopers with experience in ‘value creation’. Due to the UNION & ESSEX COUN- TY, NJ — Gebroe-Hammer Associates has completed a trio of multi-family invest- ment sales totaling $5.76 million and 86 units located throughout Northern New Jersey’s Essex and Union counties. In all three trans- actions, the Gebroe-Hammer brokerage teams represented the sellers, long-time clients of the firm, and identified the buyers. In Union County, vice presi- dents Stephen Tragash and Steven Follman arranged the sale of 1009-1015 East Jersey St., a 34-unit property in Elizabeth that traded for $2.2 million. The low-rise garden-style property is cen- trally located just off Spring St. between the intersections of East Grand St. and Eliza- beth Ave., a short distance from the New Jersey Tpke. Nearby at 409-421 Jefferson Ave., David Oropeza , man- aging director, and Tragash

positioning purposes,” said Jacklene Chesler , a man- aging director at Colliers In- ternational who represented the seller in the transaction. 1000 The American Rd.

overall size of the asset, acre- age, and strong submarket fundamentals, we knew this opportunity would appeal to buyers for an array of re-

“JMF Properties Group is a visionary in transforming properties into assets that enrich communities. With an aggressive, hands-on mar-

Gebroe-Hammer completes a trio of multi-family sales for $5.76 million in in Union and Essex counties

also concluded the sale of a 34 apartment-rental unit com- plex, which was constructed in 1971. The seller was a multi-billion dollar private equity fund Gebroe-Hammer has recently represented ex- clusively in several other multi-family transactions throughout Northern and Southern New Jersey. In the urban hub of Irving- ton in Essex County, Gebroe- Hammer’s team of Joseph Brecher , managing director, and David Jarvis , executive vice president, completed the sale of Gold Haven Commons, an 18-unit “fractured” condo- minium apartment property that sold for $1.65 million. Situated at 512-516 Union Ave., just north of the inter- section of the Garden State Parkway and I-78, Gold Ha- ven Commons features nine one-bedroom and nine three- bedroom units, as well as nine on-site parking garages. “Demographic trends have

512-516 Union Ave.

shifted to New Jersey’s urban and semi-urban locations,” said Brecher. “Tenants want to live near where they work, and/or have close access to

transportation that will allow them to take advantage of sporting, entertainment and dining venues from Newark to New York City and every-

where in between. Investors have been flocking to these markets for some time now due to fortified occupancy rates.” n

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Real Estate Journal


N orthern N ew J ersey CenterPoint Harbor acquires property, leases 54,000 s/f space NAI Hanson facilitates $4.6m sale of Jersey City warehouse and subsequent lease signing J ERSEY CITY, NJ — NAI James E. Hanson , a New Jersey-based com- mercial real estate firm,

announced the $4.6-million sale of 106 Harbor Dr., a 65,000 s/f, single-tenant warehouse prop- erty in Jersey City. The NAI team of senior vice president Tom Ryan and vice president Barry Cohorsky represented the property’s seller, a family investor. Subsequently, Cohorsky and Ryan represented the prop- erty’s new owner, CenterPoint Harbor LLC, in a 54,000 s/f lease transaction with Iron

106 Harbor Dr.

The Goldstein Group brokers Chase Bank deal OLD TAPPAN, NJ — The Goldstein Group , a provider of retail real estate services in New Jersey, announced it has placed Chase Bank in Old Tappan. Chase is one of the nations leading consumer and com- mercial banks with over 5,100 branches located nationwide. Chase Bank filled a 4,800 s/f space at Bistate Plaza on Old Tappan Rd. in Old Tap- pan. Bistate Plaza, a 90,000 s/f Neighborhood Shopping Center, is anchored by an A&P supermarket and a CVS/ Pharmacy. n “The property provided Cen- terPoint, which has been ag- gressively pursuing indus- trial opportunities in the port markets, with an opportunity to expand its market share,” Cohorsky said. “CenterPoint has acquired nearly 3 million s/f over the past several years. The company’s strategy is validated by the signing of a long-term lease with a multinational company.” n Mountain Information Man- agement LLC. An information management, records manage- ment and data protection ser- vices company with locations throughout the UK, Europe and North America, IronMoun- tain Information Management signed a 10-year lease. Located within the Hudson Waterfront Industrial Cluster, 106 Harbor Dr. benefits from on-site property management. The property is situated on 2.7 acres, and provides excellent access to the Port of New York and New Jersey, Routes 1 and 9, the Holland Tunnel and the New Jersey Turnpike.

We’ve got the capital connections to deliver the right results.


$19,400,000 45 Eisenhower Drive SIZE: 175,575 SF CITY: PARAMUS, NJ LENDER: NATIONAL DEBT FUND

$8,000,000 Millburn Shopping Center SIZE: 66,797 SF CITY: SHORT HILLS, NJ LENDER: LIFE COMPANY


34 Offices Coast-to-Coast


GREG NALBANDIAN MANAGING DIRECTOR 973.944.5728 gnalbandian@northmarq.com CRISTINA KLOSS VICE PRESIDENT 973.944.5725 ckloss@northmarq.com NEW JERSEY OFFICE | ONE GATEHALL DRIVE SUITE 101 PARSIPPANY, NJ 07054 GARY COHEN SENIOR VICE PRESIDENT 973.944.5724 gcohen@northmarq.com

Real Estate Journal — New Jersey — June 13 - 26, 2014 — 7B


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N orthern N ew J ersey



GERBER/SOMMA Associates SPECIALISTS • INVESTMENT REAL ESTATE 210 RIVER STREET • HACKENSACK, NJ 07601 • (201) 646-1234 www.gerbersomma.com

8B — June 13 - 26, 2014 — New Jersey — M id A tlantic

Real Estate Journal


N orthern N ew J ersey Weichert Realtors represents Canaan Korean Community Church CBRE represents New Boston Fund in sale of 30,000 s/f in New Jersey

H ACKENSACK, NJ — New Boston Fund, Inc. , a private equity real estate investment, devel- opment andmanagement firm, announced that it has sold 80 Commerce Way in Hacken- sack, to Canaan Korean Com- munity Church. 80 Commerce Way is a 30,000 s/f single-story office and flex building. The prop- erty has the ability to serve a variety of uses and tenants, and includes warehouse and showroom space. New Boston acquired the property along with the adjacent building at

60 Commerce Way in part- nership with Prism Capital Partners, LLC , a privately held real estate organization, in 2005. The partnership sold 60 Commerce Way in early 2010. “We’re very happy with how 80 Commerce Way has per- formed in the Northern New Jersey submarket,” said Gary Hofstetter , senior vice presi- dent at New Boston Fund. “As a well-located property, it has consistently generated a great deal of interest. We felt that current market conditions made it the right time to sell.”

The property is located just off of Route 4 and is under three miles from I-80 and the Garden State Parkway. Also just six miles fromManhattan, it provides immediate access to other major markets along the East Coast. 80 Commerce Way is also just north of the Simon Shops at Riverside, the region’s premier luxury mall and home to many of the na- tion’s major high-end retailers. “Over the course of the mar- keting of 80 Commerce Way, we saw strong interest from local and regional owner- occupiers for this property,”

80 Commerce Way

buyers with alternative uses like gaming and entertain- ment, food manufacturing, fit- ness centers and, ultimately, a local church looking to expand their presence in the area.” The Canaan Korean Com- munity Church was repre- sented by Oksoon Yang of Weichert Realtors in this transaction. Thomas Mona- han , senior vice president, Noah Balanoff, vice president, and David Opper , senior vice president, all of CBRE, repre- sented New Boston Fund. New Boston does not dis- close sales prices for its trans- actions. n MORRISTOWN, NJ – The Godfather of Morristown, a popular seafood and brick oven pizza restaurant, held its official Grand Opening April 28th at The Highlands at Morristown Station. Morristown Mayor Timothy Dougherty joined Jerry Forte and other members of the restaurant’s ownership team to cut the ribbon on one of the town’s newest businesses. The mayor said that the opening of the 4,500+ s/f res- taurant and the strong public response shows that Morris- town remains an attractive destination for local, regional and national retailers. “This is another successful retail opening in one of the new developments in town. Morristown is on the move. It’s a place where people want to do business.” Mayor Dough- erty said. The Highlands at Morris- town Station is a 217-unit rental building developed in partnership by Roseland , a wholly owned subsidiary of Mack-Cali Realty Cor- poration , and Woodmont Properties . n Roseland opens The Godfather of Morristown

said Noah Balanoff , vice president, CBRE . “More spe- cifically, there was quite a bit of interest from prospective


Investment Real Estate Brokerage

Goshen, New York 48 Residential Units Janet Bortz ext 294 Daniel Lanni ext 248

Poughkeepsie, New York 288 Residential Units Janet Bortz ext 294

Bayonne, New Jersey 248 Residential Units to Develop

Robert Holland ext 265 Scott Davidovic ext 290

Irvington, New Jersey 44 Residential Units Joni Sweetwood ext 273

Atlantic City, New Jersey 30,000 SF Mixed-Use Anthony Palmiotto ext 357

Edgewater, New Jersey 15 Residential Units Janet Bortz ext 294

multifamily. retail. office.

www.kislakrealty.com 732 750 3000

The Kislak Company, Inc.

Real Estate Journal — New Jersey — June 13 - 26, 2014 — 9B


M id A tlantic

N orthern N ew J ersey


JUNE 2014

In 2013, Cushman &Wakefield’s Metropolitan Area Capital Markets Group closed $1.5 billion of office, industrial, retail, and multifamily transactions.




725 DARLINGTON 168,000 SF Sale of E-Retail Distribution Facility Mahwah, NJ

MIDWOOD PORTFOLIO 169,963 SF Sale of Industrial Portfolio Farmingdale, NY

CROSSROADS BUSINESS CENTER 214,122 SF 97% leased, Class A Office Building Bedminster, NJ




99WOODAVENUE SOUTH 271,988 SF 91% Leased, Class A Office Building Iselin, NJ

1000 CORPORATE ROAD & 571 JERSEYAVENUE 457,723 SF 100% Leased, SingleTenant Industrial Buildings North & New Brunswick, NJ

STEEPLECHASE AT MALTA 234 Units Sale of Class A Apartment Community Saratoga County, NY

CAPITAL MARKETS GROUP Andrew J. Merin andrew.merin@cushwake.com DavidW. Bernhaut david.bernhaut@cushwake.com H. Gary Gabriel gary.gabriel@cushwake.com

Brian J.Whitmer brian.whitmer@cushwake.com Robert Donnelly Jr. robert.donnellyjr@cushwake.com Grace E. Braverman grace.braverman@cushwake.com

Kyle B. Schmidt kyle.schmidt@cushwake.com Nicholas J. Karali nicholas.karali@cushwake.com RyanW. Dowd ryan.dowd@cushwake.com

Ike M. Newman ike.newman@cushwake.com Ryan J. Larkin ryan.larkin@cushwake.com Andrew Schwartz andrew.schwartz@cushwake.com

Cushman &Wakefield, Inc. | One Meadowlands Plaza, 7 th Floor | East Rutherford, NJ 07073 | www.cushwake.com | tel. 201.935.4000 | fax. 201.804.0064

10B — June 13 - 26, 2014 — New Jersey — M id A tlantic

Real Estate Journal


N orthern N ew J ersey

Two medical tenants sign leases totaling 7,996 s/f Accordia Realty Ventures adds two tenants at 305 W. Grand Ave. in Montvale, NJ M ONTVALE, NJ — Following a recent reposition of 305

W. Grand Ave. in Montvale, Accordia Realty Ventures (Accordia) has signed two new leases with medical tenants. Bergen Gastroen- terology P.C. has taken 5,723 s/f while Hackensack UMC at Pascack Valley Hospital signed on for 2,273 s/f. “These new leases are a testament to the building’s rising reputation as the pre- mier medical office location in Northern New Jersey,” said Accordia’s director of

305 W. Grand Ave.

marketing Sarah Loudon . Accordia acquired the sin- gle-story office building in 2009. With its easy acces- sibility and unique layout, the firm immediately signed a new medical tenant, Mont- vale Health Associates, for 7,500 s/f thus bringing oc- cupancy to 100%. Accordia then embarked on a capital improvement campaign that would reposition the property from office to medical use. The Fairfield-based owner upgraded the HVAC system, replaced the roof and added more parking, bringing the parking ratio to five cars per 1,000 s/f – a rarity in north- ern Bergen County. As the first wave of office users began vacating the building earlier this year, Ac- cordia immediately backfilled with targeted users in the medical community. Said principal Jason Bo- gart , “Now that the physi- cal transition from office to medical is complete we are witnessing the subsequent transition of our tenant base. It’s truly a vindication of our vision for the property and overall business plan.” Today, 305 West Grand Ave. is a 27,000 s/f medical office building located at Exit 172 – directly off the Garden State Parkway in Bergen County. In addition to high visibility and easy access, the property offers unsurpassed convenience for medical pa- tients and other building visitors. In 2013, Accordia Realty Ventures closed more than 100,000 s/f of new leases at its properties which are locat- ed throughout the Northern New Jersey and Metro New York area. n

Relationship Driven. Execution Focused. Only Meridian Capital Group’s powerful financing relationships can consistently achieve the unparalleled results our clients require.

Meridian Capital Group, LLC proudly advised on financing for the following transaction: Towers at Wyncote 1,095-Unit Multifamily Property Wyncote, PA $92,260,000 Acquisition Financing

This transaction was negotiated by: David Fisher, Senior Vice President 517 Route 1 South, Suite 4000 Iselin, NJ 08830 | 732 301 3200 | www.meridiancapital.com

MAREJ - $92.3MM - Towers at Wyncote - D. Fisher - 6-13-14.indd 1

5/30/14 9:39 AM

Real Estate Journal — New Jersey — June 13 - 26, 2014 — 11B


M id A tlantic

N orthern N ew J ersey Minno & Wasko Architects and Planners design rental residences BNE Real Estate Group declares Warren at York in Jersey City 90% leased

J ERSEY CITY, NJ — The developer of War- ren at York, the boutique rental building in Jersey City’s historic Paulus Hook neighborhood, announced that more than 90% of the building’s 139 luxury rental residences have been leased after less than one month of availability. The new 11-story building, developed by BNE Real Es- tate Group , has been Jersey City’s hottest rental building since its grand opening on April 9th, 2014. “When you are able to lease over 90 percent of a building before your first residents have even moved in, you know that you have created an exceptional product,” said Jonathan Schwartz , senior vice president of BNE Real Estate Group. “In the case of Warren at York, we have built upon the tremendous popular- ity of downtown Jersey City as a hip residential destina- tion by offering upscale living spaces, boutique amenities and a unique ambience that distinguishes it from other rentals in the market.” Designed by Minno & Wasko Architects and Planners , Warren at York delivers a distinctive collec- tion of studio, one-, two- and three-bedroom residences to Paulus Hook, with immediate occupancy available. “We are finding that a lot of renters have their hearts set on Paulus Hook, and Warren at York offers them the best opportunity to truly embrace everything that makes the lo- cation special,” said Kristina Hedden , vice president of marketing for BNE Real Es- tate Group. “We have created and carried out a complete lifestyle vision here, where every detail – macro to micro - has been connected to create not just an apartment build- ing, but an all-encompassing experience that suits the ac- tive lifestyle and urban tastes of our residents.” Reclaimed materials were used throughout the common spaces at Warren at York to craft details such as exposed wood beamed ceilings and classic brick backdrops. An eclectic mix of industrial-style furniture, such as rich leather sofas and cow-hide rugs, en- hances the space to create a welcoming and comfortable setting. n





12B — June 13 - 26, 2014 — New Jersey — M id A tlantic

Real Estate Journal


CRE F orecast S ummit

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M id A tlantic Register Today! 4 hours of Real Estate Continuing Education Credits have been applied for in the State of New Jersey for New Jersey Re l Est te Professionals S hopping C enters NJ C ommercial R eal E state F orecast S ummit

Real Estate Journal — New Jersey — June 13 - 26, 2014 — 13B



7:30 AM — Hot Breakfast Buffet 8:00 AM — Retail Update: Opportunities and Trends • What type of Leasing Activity is occurring and what major Retailers are committing to leases • Mixed-use projects: Is it still the future or a thing of the past • How are retailers doing in today’s economy: who is still expanding in New Jersey and why • What’s in store for development in 2014/2015 and Beyond • Future Trends and Leasing predictions and what’s on tap for future Development 8:45 AM — Opportunities in the Industrial Real Estate Market & Outlook for 2014/2015 • Industrial Market Update • How are we going to do industrial development in the future • What types of industrial projects are in the pipeline • How much space will we need to add in the next 5 years: how much land will it take • Urban vs. rural: where is the industrial development going and why will be getting done in the short & long term. • Future Forecast & Trends for Industrial Real Estate in New Jersey 9:30 AM — 1031 & Investment Strategies for Investors • Evaluating the Commercial Real Estate Investment • Capital Market Strategies for 1031 Investors • Solutions for 1031 Investors: Delaware Statutory Trusts, Oil & Gas Royalties • Understanding Delaware Statutory Trusts • Utilizing Oil & Gas Royalties to build Cash Flow in your portfolio GUEST SPEAKERS: G ary Gabriel - Cushman & Wakefield Edwin Cohen - Prism Capital Partners Israel Schubert - Meridian Capital Group Brian Whitmer - Cushman & Wakefield Jose R. Cruz - HFF Robert Holland — The Kislak Company Wednesday, June 25th, 2014 Brooklake Country Club, Florham Park, NJ Registration: 7:25 AM Program: 7:55 AM - 12:00 PM Register Today! 4 hours of Real Estate Continuing Education Credits have been applied for in the State of New Jersey for New Jersey Real Estate Professionals To register, please visit rejournals.com/newjersey 10:15 AM — Break 10:25 AM — Evaluation of the Office Market & What Tenants require today • Vacancy Rates: New Jersey office market update • Leasing trends: what projects are leasing up and why •What are the factors driving demand • How has the needs of tenants affected what brokers need to know • What are the requirements of the tenants and what do terms look like today • Predictions on where the office market will be in the next two years 11:10 AM — Apartment Market/Multifamily Overview: • What is driving the Apartment and Multifamily Market and where is it driving it. • With vacancies at record lows how does New Jersey stack up compared to the rest of the U.S. • What are the outside influences that are creating momentum in the Apartment Market • How are apartment brokers getting deals done today • The changing fundamentals of Apartments and Multi Family • New Development vs. Existing: Where are the opportunities and why 12:00 PM — Adjourn & Networking PROGRAM AGENDA: Wednesday, June 25th, 2014 Brooklake Country Club, Florham Park, NJ Registration: 7:15 AM Program: 7:55 am - 12:00 PM To register, please visit www.rejournals.com/newjersey

To register, please visit www.rejournals.com/newjersey

14B — June 13 - 26, 2014 — New Jersey — M id A tlantic

Real Estate Journal


CRE F orecast S ummit

Meet some of our speakers

Edwin Cohen , Principal Partner — Prism Capital Partners BIO: Edwin Cohen joined Prism in 2003 as a principal partner after a 40-year career as one of the most prominent members of the real estate brokerage community. Cohen has completed hundreds of real estate transactions during his career in the Metropolitan New York/New Jersey/Connecticut area and has been responsible for leasing several million s/f of office space. Jose Cruz , Senior Managing Director — HFF New Jersey BIO: Cruz is a senior managing director in the New Jersey office of HFF with over 21 years of experience in commercial real estate. He specializes in investment sales in New Jersey, New York State and Connecticut. Cruz joined the firm in March 2010. Prior to HFF, he was the executive director of Cushman & Wakefield’s New York Area Investment Sales Group where he spent more than 17 years. Israel Schubert , Managing Director, head of New Jersey office — Meridian Capital Group BIO: Schubert joined Meridian in 1996 and has been a Managing Director since 1998. Schubert manages Meridian’s Iselin, NJ office and previously managed the company’s office in Englewood Cliffs. Under Schubert’s direction, Meridian’s New Jersey office focuses primarily on serving borrowers in the New Jersey, Pennsylvania, Delaware and Maryland markets BrianWhitmer, CCIM , Senior Director, Capital Markets Group— Cushman&WakefieldNJ BIO: Brian Whitmer serves as senior director of the Metropolitan Area Capital Markets Group in C&W’s East Rutherford, New Jersey office. Part of a 13-member team, Whitmer is responsible for managing, underwriting, and marketing investment properties for sale and arranging joint ventures in the suburban markets surrounding New York City. H. Gabriel , Executive Vice President, Capital Markets — Cushman & Wakefield NJ BIO: H. Gary Gabriel serves as executive vice president of the Metropolitan Area Capital Markets Group in C&W’s East Rutherford, New Jersey office. As one of three partners on a 13-member team, Gabriel is responsible for managing, underwriting and marketing investment properties for sale in the suburban markets surrounding New York City. Robert Holland , President — The Kislak Company BIO: Robert Holland joined Kislak in 1984 and became president in 2012. He was previously a senior vice president and a co-managing director. Holland is one of Kislak’s all-time leading salespeople. He received Kislak’s Production Award more than ten times and is a multiple recipient of the firm’s Salesperson of the Year Award. Brian Milberg — Sitex Realty Group BIO: Brian Milberg oversees acquisition and development opportunities throughout SG’s Target Markets in addition to working on the firm’s capital market ventures and equity sourcing. He has over 14 years of industrial real estate and private equity investing experience. Prior to SG, Milberg was Senior Vice President of Acquisitions at KTR Capital Partners, an industrial real estate private equity firm. Michael Harrington — The Hampshire Companies BIO: Michael Harrington is an Investment Manager for The Hampshire Companies, a full service, private real estate in- vestment fund manager with equity in assets valued at over $2.5 billion. William Procida, President — Procida Funding BIO: William Procida is president of William Procida Incorporated (“WPI”). WPI was founded in 1995 and is based in Ft. Lee, New Jersey. The firm specializes in providing management and capital for both distressed and value added situations. Richard Vaill, Vice President — Provident Bank BIO: Richard is a Vice President and Business Development Officer with Provident Bank, and is responsible for develop- ing new deposit, loan and escrow management business, as well as building relationships with customers. He’s also main- tains his New Jersey Real Estate license, and has experience with 1031 Exchanges. David Orbach, Chairman of the Board — Regal Bank BIO: David Orbach acted as the lead organizer behind the founding of the institution in 2007, which currently operates six branch locations located in Essex and Morris Counties. Prior to joining Regal, from June 2005 to February 2011, Mr. Orbach was the Managing Partner and Founder of Gallant Funding, L.P. Orbach earned his B.A. in Economics from the City University of New York at Queens College and his J.D. from the Benjamin N. Cardozo School of Law. Eric Salant, Esq., Director of Business Development — Capital 1031 and Capital Real Estate IRA, LLC BIO: Eric has extensive experience in facilitating tax deferred exchanges, both as an attorney and Qualified Intermediary, commercial and residential real estate transaction, and real estate finance. Eric is a 1997 graduate of St. John’s University School of Law, and received a B.S. in Finance and Marketing from the University at Albany.

Real Estate Journal — New Jersey — June 13 - 26, 2014 — 15B


M id A tlantic

CRE F orecast S ummit

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16B — June 13 - 26, 2014 — New Jersey — M id A tlantic

Real Estate Journal


CRE F orecast S ummit

NAI James E. Hanson represents seller in 11,289 s/f lease The Hampshire Companies sells 60,766 s/f industrial space

P ISCATAWAY, NJ — The Hampshire Com- panies , a full-service, private real estate investment firm with equity in assets val- ued at over $2.5 billion, has announced the sale of a 60,756 s/f industrial building located at 81 Kingsbridge Rd. in Pis- cataway. The sale was made to Super Win Enterprises Cor- poration, a nationwide paper and plastics distributor. Situated on five acres of land the single-story build- ing offers excellent visibility with signage along I-287 and easy access to the New Jersey Tpke. and Interstates 78, 287,

and 280. The facility features 27’ clear ceilings, ample park- ing, two loading docks and is fully climate controlled. The property’s layout also allows for the opportunity to add more parking and loading areas. “The building’s versatile layout and the fact that the building was vacant during the time of the sale allowed the buyer to customize the space to best fit their unique needs,” said Igor Derbarem- diker , senior investment manager for The Hampshire Companies. “The sale of the property enabled us to achieve objective returns on our in- vestment.” CBRE, Inc. represented The Hampshire Companies in the transaction. In addition... The Hampshire Compa- nies, has sold its 11,289 s/f learning center to Garden Academy, Inc., a non-profit school specializing in the best practices for the treatment of Autism for students ages 3-21 from North and Central New Jersey. Garden Academy will move from its previous loca- tion in Maplewood, NJ. to its new home at 627Mount Pleas- ant Ave. in West Orange, NJ. Situated on 2.31 acres, the facility which was formerly a learning and daycare center features ten classrooms and site amenities include two swimming pools and a play- ground ideal for helping the Garden Academy carry out its mission. The property also offers easy access to Interstate 280 and the Garden State Parkway and ample, paved parking. “We were inspired by the superior work and dedication that Garden Academy pro- vides to the children in north- ern and central New Jersey in need of specialized education which is why we selected the school as the purchaser from a pool of qualified buyers,” said Igor Derbaremdiker, a Senior Investment Manager for The Hampshire Companies. “For us this was more than a real estate transaction. It was im- portant for us to help Garden Academy find a permanent place where the school and its students could continue to grow.” NAI James E. Hanson, Inc. represented Hampshire in the transaction. n

81 Kingsbridge Rd.

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