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R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news

ISSUE HIGHLIGHTS Volume 26 Issue 17 Sept. 12 - 25, 2014

AYREVILLE, NJ — John Udell , president of Weichert Commer- Fern of Cassidy Turley acts as co-broker on the transaction Weichert’s Baseil & Maynard close sale of 905,000 s/f investment property S

conveniently located at the cross roads of the New Jersey Tpke., Garden State Parkway and Rtes. 1, 9, 35 and 18. The building is comprised of two interior rail sidings, 52 drive- in doors (30 interior) and rail service provided by Conrail. The transaction closed at the beginning of August. Baseil and Maynard represented the seller, GJM Bordentown, LLC/Sayreville, LLC and was sold to an undisclosed buyer. Cassidy Turley ’s Chuck Fern was a co-broker on the transaction. “We are pleased to congratu- late both Tony Baseil and Scott Maynard on the closing of this transaction,” said Udell. “Tony and Scott’s experience and expertise were key to making this deal a success.” n

c i a l B r o - kerage , an- nounced that executive vice president An- thony Baseil and s e n i o r vice president Scott May- nard , have recently com- pleted the sale of a 905,000 s/f investment proper ty in Sayreville. The prop- erty located at 4000 Bor-

Spotlight 11-17A

Anthony Baseil

NJ Apartment & Multifamily Summit Event

Scott Maynard

dentown Ave. in Sayreville is situated on over 47 acres

4000 Bordentown Ave.

7-20B

Calkain Companies reps. buyer and seller in $22million retail building inMcLean, VA

Oxford Dev. breaks ground on 117 units

transaction. Th e t wo - story retail b u i l d i n g , wh i c h c on - tains a two- s tory park- ing garage, is 100% leased by Recreation- al Equipment, Inc. (REI). The project is positioned near the in- tersection of Chain Bridge Rd. and Lees- burg Pike and is adjacent to Tysons Cor- ner Center, a mixed-use project con- taining com- mercial office, r e t a i l a n d h o s p i t a l i t y

MCLEAN, VA — Finmarc Management, Inc in part- nership with SPMC Urban Properties , has announced the sale of 8209 Watson St., a retail building in McLean, con- taining 32,857 s/f of space. The companies sold the property to Constellation 107th Street, LLC for $22 million. Jonathan Hipp, Andrew Fallon and Jonathan Florin of Calkain Companies, LLC represented the buyer and the seller in this

Jonathan Hipp

FC-C

41 Martha Drive rendering

Directory

Andrew Fallon

DelMarVa.................................................................5-6A Financial Digest......................................................7-17A New Jersey....................................................... Section B Northern New Jersey. .......................................... 21-23B Pennsylvania.................................................... Section C Central PA................................................................3-9C

8209 Watson St.

the most prolific and highly- desirable retail marketplaces in the country,” said Marc Solomon , principal of Fin- marc. “Together with SPMC, we intend to re-allocate the proceeds generated from this sale to strategically purchase additional commercial and re- tail buildings that complement our five million square foot portfolio in the Mid-Atlantic region.” “There has been a paradigm

shift in where people are choos- ing to live, and it is clear that both the younger and older generations prefer compact, walkable communities where every essential amenity is lo- cated within their fingertips,” said Scott Spector , founder of SPMC Urban Properties. “We recognize this pattern and intend to capitalize on this new growth opportunity by focusing our future acquisition efforts on the urban environment.” n

Upcoming Spotlights September 26, 2014 Fall Preview

Jonathan Florin

project. The new Silver Line of the Washington Metro Transit System also serves the area. “The new owner acquired a fully-occupied, well-main- tained asset situated in among

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