26A — March 2026 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com
O wners , D evelopers & M anagers
Luxury 110-unit apartment community trades for $35.075M in New Jersey JLL Capital Markets facilitates the sale of The Grove at Piscataway
ORRISTOWN, NJ — JLL Capital Markets has repre- sented Landmark Compa- nies in their $35.075 million acquisition of The Grove at Piscataway, a luxury 110-unit multifamily community locat - ed in Piscataway, New Jersey. The Grove at Piscataway is strategically positioned at 67 Old New Brunswick Rd., just off I-287, providing un - matched regional connectivity to major thoroughfares includ - ing Rtes. 18, 28, 22 and 1, the Garden State Parkway and the NJ Tpke. The property offers convenient access to M
currently 95% occupied. The property features a diverse mix of one-, two- and two-bedroom plus den apartments averaging 978 s/f, with 88 market-rate and 22 affordable units across three residential buildings and a clubhouse. The community offers condo- level finishes including nine- foot ceilings, luxury plank floor - ing, stainless steel appliances, white quartz countertops, custom modular closets and in-home washers and dryers. Resort-style amenities include an outdoor swimming pool with bar and BBQs, state-of-the-art fitness center, social lounge
with billiards, co-working space and EV charging stations. JLL Capital Market’s In - vestment Sales and Advi - sory team was led by senior managing directors Mike Oliver, Jose Cruz and Steve Simonelli , senior directors Elizabeth DeVesty and Ryan Robertson and director Austin Pierce . “The Grove at Piscataway represented an exception - al opportunity to acquire a newly constructed, lux - ury multifamily asset in a prime location with strong fundamentals,” said Oliver. “The property’s high-end finishes, resort-style ameni - ties and proximity to major employment centers and transportation hubs made it an attractive investment for Landmark Companies as they pivot their company in a new direction.” This transaction completed a 1031 exchange for Land - mark, in which they sold legacy properties constructed in the 1970’s, the majority of which their families built and executed two replacement acquisitions: The Grove at Piscataway and Hudson 5401 Apartments in Raleigh, North Carolina. “We are making an effort to position our company for future success by improv - ing the product type we own and manage,” said Landmark’s principals Eric Harvitt and Michael Gottlieb . “By trad - ing older properties for newer construction, we are modern - izing our portfolio for the next generation of residents and reinforcing our commitment to holding high-quality assets for decades to come.” In a separate transaction, JLL Capital Markets has arranged the sale of 1619 Walnut St., a premier mixed- use asset located in Phila - delphia’s prestigious Ritten - house Square neighborhood. JLL represented the seller, Nuveen Real Estate . The buyer was MZP AG, a private investor based in Switzerland JLL Capital Market’s In - vestment Sales and Advisory team was led by senior man - aging director Jim Galbally, Fran Coyne, Carl Fiebig , se - nior director JP Colussi and director Patrick Higgins . The six-story mixed-use building totals 34,795 s/f and was originally constructed in 1937 with renovations com - pleted in 2009. MAREJ
The Grove at Piscataway
Manhattan in less than one hour via nearby train stations and is located just 10 minutes
from Rutgers University. The 107,596 s/f commu - nity was built in 2020 and is
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