4B — April 12 - 25, 2019 — New Jersey — M id A tlantic
Real Estate Journal
N ew J ersey
Steve Bussel &Herb Zimmerman broker 80,000 s/f lease at 1375 Jersey Ave. in NewBrunswick BRC’s Blitt, Sager &Hodgkins rep. seller in sale of iconic Former ReginaVacuumBuilding inRahway R MidtownManhattan passenger service.
Blitt. “Prior to the deal closing we were able to lease the final remaining units, providing the new owner a 100% stabilized asset. We believe the solid NJ industrial market is a great investment for firms looking for stable returns.” Sitting on four acres, 313 Regina Ave. is located near Exit 12 of the NJ Tpke. with access to Rtes. 1 and 9. The property totals 256,000 s/f and has 28- foot ceilings, four tailboards, seven loading docks, heavy power and one drive-in door. It is one and half miles from a NJ Transit rail station with direct
AHWAY, NJ — Bussel Realty Corp. (BRC) announced the sale of 313 Regina Ave. in Rahway, a 256,000 s/f industrial facility, for $19.75 million. BRC’s David Blitt , senior VP, Robert Sager , senior VP, and James Hodgkins , VP, represented the seller and Joel Katz of Katz & Sterling rep- resented the buyer, (Art Scroll) 313 Regina Ave. LLC, in the transaction. "While we were arranging the sale of 313 Regina Ave., our BRC team was also the leasing agent for the property,” said
In a second transaction, BRC leased 80,000 s/f of industrial space at 1375 Jersey Ave. in New Brunswick. Steve Bussel , president of BRC, SIOR, and Herb Zim- merman , senior VP of BRC, represented the tenant, Ther- A-Pedic Sleep Products, and the landlord in the transaction. “BRC has represented the landlord on this property for over 20 years, and was instru- mental in leasing the facility to Ther-A-Pedic initially,” said Bussel. 1375 Jersey Ave. is located near Exit 9 of the NJ Tpke. with access to Rtes. 18, 1, 91 and 26. The property totals 80,000 s/f and has 20-foot ceil- ings, one drive-in door, six extended loading docks, 300 amps of electric power, 30-foot by 40-foot column spacing, and 25 free surface spaces. In a third transaction, Bussel Realty Corp. leased 18,000 s/f of industrial space at 100 Hoff- man Place in Hillside. Jordan Metz , senior VP, and James (JP) Blasch , sales associate, of BRC represented the tenant, Spicy World, and the landlord in the transaction. The transaction represents Blasch’s first deal since join- ing BRC in September of 2018. Metz and Blasch will also be marketing 8,000 s/f of sublease space for the tenant at the property. “100 Hoffman Place is an 18,000 s/f warehouse with high ceilings and loading docks, and will relocate Spicy World from a third party logistics facility in NJ. The new space will enable the company to better service their growing customer base along with their expanded line of SKUs in their product offer- ings,” said Metz. “JP Blasch joined my team less than 45 days ago and was able to close his first industrial real estate transaction in quick fashion, assisting with the site selec- tion process and conducting the property tours with our client. In such a tight leasing market, decisiveness helps win deals, and fortunately we were representing a sophisticated group which knew what they needed, and acted quickly once it was confirmed that the space met those needs.” Blasch will be working exclusively with Metz and his growing industrial real estate brokerage team at BRC.
313 Regina Ave. in Rahway
1375 Jersey Ave. in New Brunswick
P o s k a n z e r S k o t t A r c h i t e c t s 550 North Maple Avenue, Ridgewood, NJ 07450 201.445.2322 www.poskanzerskott.com
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