Mid Atlantic Real Estate Journal — New Jersey — March 14 - 27, 2014 — B
www.marejournal.com
N orthern N ew J ersey Stephen Elman & Jules Nissim represent both buyer and seller Cushman & Wakefield arranges sale of 146,000 s/f industrial facility
ECAUCUS, NJ — Com- mercial real estate ser- vices firm Cushman & Wakefield has orchestrated the sale of 60-70 Seaview Dr., a 146,000 s/f industrial build- ing in Secaucus. The firm’s Stephen Elman and Jules Nissim represented both the buyer, C.R. Laurence Co., Inc. , and seller, Principal Real Estate Investors . For C.R. Laurence, a leading supplier to the glazing, archi- tectural, railing, construction, industrial and automotive in- dustries, the acquisition marks a relocation and expansion by 100,000 s/f within the Secaucus market. Constructed in 1981, the single-story distribution facility at 60-70 Seaview Dr. is situated on 6.7 acres. The site provides easy access to major highways, including the New Jersey Turnpike. “The requirement was for a larger facility to allow the company to expand their prod- uct line,” said Elman. “The company also wanted to be in close proximity to their existing facility because many of their customers pick their orders up from their distribution center,” added Nissim. “After a site search in the Meadowlands, 60- 70 Seaview Drive proved to be the ideal location to meet these requirements. We are pleased to have been able to complete this transaction.” S EastmanCompanies’ parking garage nearing completion
“The building is exceptionally well-maintained, in immacu- late condition,” said Elman. “And with its close proximity to key tri-state area markets, it is ideal for any wholesale or outlet store operation.” “This industrial market con- tinues to show positive signs,” said Elman. “We are seeing vacancy rates declining, rents and sale prices improving, and strong demand for well-located, quality properties. The building at 211 CountyAvenue certainly meets those criteria, and we ex- pect to see considerable interest in this availability.” n
60-70 Seaview Dr.
LIVINGSTON, NJ — A new five-story parking garage is nearing completion at Eisen- hower Corporate Campus and Conference Center in Livings- ton. The new structure will provide 600 additional parking spaces for tenants and guests at the premier 380,000 s/f class A office complex. Eisenhower Cor- porate Campus is owned and managed by EastmanCompa- nies of Livingston, along with its joint venture partner L ong Wharf Real Estate Partners of Boston, MA. n
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