26 — July 2025 — Southern New Jersey — M id A tlantic Real Estate Journal
www.marej.com
S outhern N ew J ersey
Lee & Associates arranges distribution center lease
Aspen Real Estate sells 57,900 s/f redevelopment Richman & Abramsohn of Colliers brokers $8.5M sale
B
URLINGTON, NJ — Colliers , a diver- sified professional
services and investment management company, is pleased to announc e the $8.5 mil- lion sale of 6 Terri Ln. in the Bromley Corporate Center in Burlington. The 57,900 s/f industrial building is centrally lo- cated, provid- ing direct ac- cess to major
24 North Game Creek Road
Ian Richman
and aligns with the company’s immediate and long-term dis- tribution space needs, accord- ing to Stypa. This asset gives Quince the option to expand up to 325,000 s/f, offering a scalable solution to support the company’s growth and operational logistics require- ments. “We conducted an extensive logistics facility site search in six states with a focus on finding a landlord that Quince could partner with and grow with over time,” said Stypa. “LogistiCenter at Carneys Point offers opportunities for expansion and access to a strong labor pool; these were major draws for our client. This lease marks a significant milestone as Quince brings more of its supply chain in- house. We are pleased to have helped them find a strategic home in New Jersey.” MAREJ
CARNEYS POINT, NJ — Andrew Stypa of Lee & As- sociates’ New Jersey office
represented affordable luxury brand Quince in a 105,000 s/f industrial lease at Lo- gistiCenter at Carneys Point. Dean
6 Terri Lane aerial
WCRE’s full Q2 2025 Mar- ket Report offers detailed analysis and commentary across major property types, helping clients navigate evolv- ing trends and identify new opportunities as the second half of the year unfolds. The full Q2 2025 market report is available upon request. About WCRE WCRE is a full-service com- mercial real estate brokerage, property management and ad- visory firm specializing in office, retail, medical, industrial and investment properties in Penn- sylvania, New Jersey and New York. We provide a complete In other news, SRS Real Estate Partners announced the $2.95 million sale of a res- taurant property NNN leased to Pupatella Neapolitan Pizza, located at 301 Massachusetts Ave. NE in the Capitol Hill neighborhood of Washington, D.C. The fully renovated 4,154 s/f property also has 1,500 sf of patio space. Pupatella opened rior demolition and the addition of new loading infrastructure, making it well-suited for to- day’s industrial users. “This transaction reflects the strong demand we continue to see for well-located, functional industrial assets in Southern New Jersey,” said Abramsohn. “The Burlington area offers a strategic location, skilled labor pool, and excellent high- way access, making it an ideal destination for logistics and distribution businesses.”
6 Terri Ln. offers access to Southern New Jersey’s key transportation corridors, in- cluding I-295, the New Jersey Turnpike, and Routes 130 and 73. This prime location en- ables efficient connectivity to the Philadelphia metro, Port of Camden, and the greater Northeast corridor. Colliers represented the seller, Aspen Real Estate , in the transaction. Scott Mertz of NAI Mertz represented the buyer. MAREJ range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client- focused relationships. Through our intensive focus on our cli- ents’ business goals, our com- mitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher stan- dard. We go well beyond helping with property transactions and serve as a strategic partner in- vested in your long-term growth and success. MAREJ SRS’ Washington, DC Capi- tal Markets team led by senior VP Rick Fernandez and EVP & managing principal Andrew Fallon represented the seller in the transaction, a NYC- based private owner. The buyer was a local private investor who purchased the asset with ac- quisition financing provided by Sandy Spring Bank . MAREJ
Ross Abramsohn
industrial real estate. • Tishman Speyer pur- chased 2 S Willow St. in Mont- clair, a 172,000+ s/f multifam- ily property located in the heart of Montclair. Ironstate Development Company | Brookfield Properties sold the building for $96MM at $558.11/SF. • Philadelphia Hous - ing Authority purchased 2248-2248 E Somerset St. in Philadelphia, the 165,000+ s/f multifamily building sold for $58MM, demonstrating the city’s continued focus on acquiring housing units. The building, which was completed in 2024, is net leased to convenience store operator Wawa on a 20-year, corporate- guaranteed deal. Patrick Nutt and William Wamble of SRS represented the seller, highways across the Northeast corridor. The transaction was facilitated by a Colliers’ team led by Ian Richman , execu- tive vice president, and Ross Abramsohn , vice president. The building underwent a comprehensive redevelopment to convert the formerly office- configured facility back to its original industrial use. The renovation included full inte- WASHINGTON TOWN - SHIP, NJ — SRS Real Estate Partners has brokered the $6 million ground-lease sale of a 5,585 s/f retail building in Washington Twp., located outside of Philadelphia in Southern New Jersey.
Andrew Stypa
Torosian of JLL represented Dermody , the landlord of the property at 24 North Game Creek Road. Founded in 2018, Quince is an innovative direct-to- consumer retail brand that partners directly with fac- tories, enabling it to sell ex- ceptional quality fashion and home goods at an affordable price point. LogistiCenter at Carneys Point marks Quince’s first logistics facility location,
SRS handles $6M ground-lease sale in Washington Township an East Coast-based developer, in the transaction. The buyer was a New Jersey-based 1031 exchange investor. in the fall of 2024 and its de- licious pizza draws patrons from across the Capitol Hill neighborhood.
Sheldon Gross Realty inks 4,816 s/f lease
WCRE Q2 2025 Report: CRE balances opportunity with . . . continued from page 3
399 Campus Drive
SOMERSET, NJ — A 4,816 s/f space within a newly renovated office building
287 and Rte. 22, the location at 399 Campus Dr. – the former Liberty Mutual HQ – is only a few miles from Rte. 78 and Rte. 206. Along with an entirely new HVAC system, the four-story structure features upgraded common areas. “This building is so centrally located, it’s quickly accessible from anywhere in the region,” said Glussky. “That’s ideal for an organization like Devereux. And the natural light that floods into common spaces creates a tremendously wel- coming environment.” MAREJ
in Somerset has been leased by Devereux Advanced Behavioral Health. The a r r ang e - ment was brokered by
Joshua Glussky
Sheldon Gross Realty cor- porate sales representative Joshua Glussky . Immediately adjacent to Rte.
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