30B — March 2025 — Best of 2024 — M id A tlantic Real Estate Journal
www.marej.com
The LARGEST LAND SALE of 2024
NAI CIR 5790 Devonshire Road Harrisburg, PA
JLL 107 Morgan Street Jersey City, NJ
Lee & Associates – WBE, LLC Iron Mountain Road Mine Hill, NJ
Size: 1.73 Acres Brokers: Jose Cruz, Ryan Robertson, Michael Oliver, Steve Simonelli, Elizabeth DeVesty JLL worked on behalf of the seller to arrange the sale of a 1.73-acre multi-housing development site is situated within Jersey City’s Powerhouse Arts District Redevelopment Plan (“Powerhouse Arts District”), and more specifically, the High-rise Zone, which allows for high-density residential uses as-of-right. The Powerhouse Arts District was established in Jersey City in 2004 to encourage economic development while creating a business incubator for the local artist community to ensure that the local neighborhood retains its diverse cultural identity. Upon completion, 107 Morgan Street will include approximately 650 units, ground floor retail and amenity space.
Size: 393,335 SF / 36 Acres Brokers: Landlord Reps: Jeffrey Furey, Partner / Lori Zuck, Partner Tenant Reps: Rick Marchisio, Principal/Partner, Drew Maffey, Sr. Partner / William Ziegler, Managing Director A developer has acquired a 34-acre industrial-zoned property at 128 Iron Mountain Road in Mine Hill, Morris County. The site, part of Iron Mountain Industrial Park, offers access to Route 46, I-80, and Route 10 and supports uses like warehousing, manufacturing, and storage. Brokers highlighted its rarity in a prime northern New Jersey market. tes’ team represented both buyer and seller, undisclosed private firms. Demand for industrial space remains high due to accessibility and a strong labor pool, making Morris County an attractive investment location.
Broker: Nik Sgagias The 60-acre farm estate, located at 5790 Devonshire Road and home to SpringGate Winery, has been acquired by JNN LLC. The barn and grounds date back to an 18th Century European settlement including the site of the first Presbyterian Seminary in the United States. The award- winning winery and estate offers on-site manufacturing of wine, beer and distilled spirits. Nik Sgagias represented the sellers in this transaction.
CONGRATULATIONS to the Lee & Associates Team Winners!
$2+ BILLION IN BROKERED SALE & LEASE SF OVER 5 YEARS 1,600+ PROFESSIONALS AND GROWING INTERNATIONALLY $115+ BILLION TRANSACTION VOLUME OVER 5 YEARS
Lease Administration
Structured Finance
Brokerage Services
Property & Asset Management
Special Asset Advisory
#1 Top Lease & #4 Top Sales Team of 2024
Best Places to Work of 2024 Best Giving Back of 2024 Largest Industrial Lease of 2024 720 South Front Street Elizabeth, NJ SALES REPRESENTATIVE Michael Schaible | Troy Wisse | Ana Carolina De Araujo
#8 Top Lease & #3 Top Sales Team of 2024
Largest Land Sale of 2024 Iron Mountain Road Mine Hill, NJ Buyer’s Rep: Marchisio/Maffey Team Seller’s Rep: Lori Zuck | Jeffrey Furey
611 River Drive, 4th Floor I Elmwood Park, NJ 07407 110 South Jefferson Road, Suite 203 I Whippany, NJ 07981 110 Fieldcrest Avenue, Suite 5 I Edison, NJ 08817 973.337.1144 I lee-associates.com/newjersey
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