S hopping C enters N ew J ersey
Real Estate Journal — New Jersey — Section B
www.marejournal.com
M id A tlantic
Vasilis of Sitar Realty Co. represents in $2,175,418 sale of a Burger King Sitar Realty Company represents both seller and buyer in $950,000 sale in Old Bridge, NJ
NJ Apartment & Mulitfamily Summit SPOTLIGHT HI-LIGHTS SEPTEMBER12 - 25, 2014 estate transactions: The purchase of a Burger King Restaurant and pad site in Troy Michigan from Gold Square Michigan, LLC from King Venture Development, LLC. Giorgio Vasilis rep- resented the purchaser. The purchase price was $2,175,418. The sale of a former Exxon service station at 2203 High- way 9, Old Bridge, New Jersey from PMG New Jersey II, LLC SELIN, NJ — Sitar Realty Company an- nounced the following real I
CARTERET, NJ — The Hampshire Companies , a full service, private real estate investment firm with equity in assets valued at more than $2.5 billion, has entered into a joint venture agreement with an institutional capital partner for the development of PortSouth Bryla. Located at 50 Bryla St. in Carteret, PortSouth Bryla will be a new state-of-the-art 460,000 s/f in- dustrial/distribution building within the heart of Middlesex County’s industrial hub. The all-new 460,000 s/f building will span across more than 33 acres and feature mod- ern construction with a flexible design in one of the most desir- able industrial centers in the northeast. PortSouth Bryla is the future of industrial space, boasting up to 96 loading docks, direct access to rail, and a superb logistical location just off Exit 12 of the New Jersey Turnpike at Rtes. 1 & 9 with close proximity to the Port of Newark and Elizabeth, New- ark International Airport and the region’s superior road and rail transportation network. Additionally, the site is lo- The sale of a 9,000 s/f. indus- trial building and 2 acres of land at 2500 Blair Rd., Carteret to Hampshire Global Part- ners, LLC from J & D Zito, LLC. Bill Sitar Jr. and Joseph Allegro represented the seller. The sale of a 6,000 s/f office building at 64 East Main St., Freehold, New Jersey by Boil- ing Springs Savings Bank to Three Buddies, LLC. Joseph Allegro represented the seller. The sale of a 6,600 s/f office building at 213 Highway 35, Middletown by Ferraro Agency to AEP Properties. Brian Murphy represented the pur- to Song Lee. Joseph Allegro , Douglas Sitar , and William Sitar represented both the seller and purchaser. The sales price was $950,000.
The sale of 16 units at 1-19 Coriander Dr., Lumberton, New Jersey from The Estate of Meyer Gold to Coriander Drive, LLC. Joseph Allegro represented the purchaser, and Giorgio Vasilis represented the seller. The sale of 2.5 acres of in- dustrial land at 294 Lincoln Blvd., Middlesex fromCreamer Brothers Partnership to TCAT Properties, LLC. Bill Sitar Jr., Thomas Monte and David MacDowell represented the seller. The sale of 2 acres of com- mercial land at 5307-5309 US Highway 9, Howell, New Jer- sey from the Estate of DaSilva to Rte. 9 Small Lot, LLC. Gior- gio Vasilis represented both the purchaser and seller. n
Exxon Mobile stock photo
Local #2250 to Meadowlands Ventures, LLC. Joseph Allegro and Bill Sitar Jr. represented the seller.
chaser. The sale of a 5,800 s/f office building at 30 Wikoff Place, Red Bank by Carpenter’s Union
The Hampshire Companies announces joint venture for the development of a 460,000 s/f building
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Lee & Associates handles lease at 301,626 s/f facility
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PortSouth Bryla rendering
Northern New Jersey Spotlight
cated in an Urban Enterprise Zone providing specialized incentives to qualified busi- nesses along with potential Grow New Jersey benefits. Construction has commenced at the site and is expected to be completed in the fourth quarter of 2014. The build- ing is currently available for pre-lease. “As we continue to revitalize the Port area it was important for us to align ourselves with a partner that shares our vi- sion for this project and also mirrors our business acumen. We are excited to embark on
this project with our new joint venture institutional partner as we work to create what will soon become one of the most sought after industrial spaces on the east coast,” said James E. Hanson II , president and CEO of The Hampshire Com- panies. “We look forward to growing our relationship and the opportunity to collaborate on future projects together.” Jeffrey Dunne , Kevin Welsh , Brian Schulz and Frank Maresca of CBRE ’s Institutional Properties Group, NJ combined with Michael Hines , Brian Fiumara and
Brad Ruppel of CBRE’s Na- tional Partners in identifying a joint venture partner for PortSouth Bryla. “This exceptional develop- ment was appealing because it offers a core industrial prop- erty in one of the top indus- trial locations in the US at an attractive risk adjusted return as well as a chance to partner with one of the leading industrial developers in New Jersey,” said Welsh. DavidKnee , Chris Hile , and Jenna Imperatore of Jones Lang LaSalle are the brokerage team for the property. n
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