22B — September 12 - 25, 2014 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N orthern N ew J ersey Galiano and Galuppo negotiates deal on behalf of the buyer and seller NAI DiLeo-Bram & Co. represents TL Management in acquisition of 130,000 s/f building
OMERSET, NJ — NAI DiLeo-Bram & Co. an- nounced that it negoti- ated the acquisition of 150 Pierce St. Somerset on behalf of TL Management. “This deal happened very quickly because our client was prepared to act.” said Eric Johnston , principal of NAI DiLeo-Bram & Co. “It was 75 days from the day we listed the property to the day we closed.” Two of NAI DiLeo-Bram’s se- nior industrial brokers Chris Galiano and Rich Galuppo also worked on the transaction on behalf of the buyer and the S
seller, C-III Realty Services. The buyer plans to occupy ap- proximately 50,000 s/f and has retained NAI DiLeo-Bram & Co. as listing agent to lease the balance of the building which consists of 80,000 s/f. 150 Pierce St. is located in the heart of Somerset and is comprised of office, lab, ware- house and manufacturing space making it appealing to many different tenants in the marketplace. The building sits on over 17 acres, boasts a parking ratio of 7:1000 and is also within walking distance of restaurants, banking and hotels. n NAI Hanson announces 36,021 s/f lease in Mahwah MAHWAH, NJ —Reflecting increased demand for indus- trial space in the automotive sales market, NAI James E. Hanson announced a lease at 211 Island Rd. Mahwah, total- ing 36,021 s/f. NAI vice president Anthony Cassano represented the ten- ant, Ramsey Auto Group and the NAI Hanson team of senior vice president Ken Lundberg and sales associate Patrick Lennon represented the prop- erty’s landlord, Ivy Equities , a real estate and healthcare investment firm. The property features four tailgates and 16,940 s/f of of- fice space in addition to its warehouse capabilities. “Ramsey Auto Group’s Suba- ru division has seen a large uptick in sales recently,” said Cassano. “The space at 211 Island Road will allow the company to service the vehicles they’ve already sold while also able to continue to expand its business.” “This lease is an example of the increasing activity in the automobile salesmarket,” Lun- dberg said. “The Ramsey Auto Group, which has 12 brands in eight locations throughout Northern New Jersey, contin- ues its growth path. Clearly, this is a sign that the economy is continuing to improve in Northern New Jersey.” n 211 Island Rd.
150 Pierce St.
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