S hopping C enters N ew J ersey S potlight N orthern NJ
Real Estate Journal — Northern New Jersey — December 8 - 21, 2017 — 5B
www.marejournal.com
M id A tlantic
At 19 Chapin Road in Pine Brook CamberREPartners&Advance Realty acquire 529,110 s/f P INE BROOK, NJ —A joint venture partner- ship between Camber
In Hoboken and South Plainfield NRDC signs 133,700 s/f of office/ind. transactions
Real Estate Partners and Advance Realty announced that it has acquired a four- building, 529,110 s/f light industrial facility located at 19 Chapin Rd. in Pine Brook. Prominently located im- mediately off U.S. Rte. 46 and I-80, the property is ap- proximately two miles from Interstate 280 and less than five miles from I-287, allowing for convenient access to the entire New York metropolitan area. The facility is currently 60% leased to a mix of tenants in- cluding credit rated national electronics and e-commerce corporations such as Samsung Electronics and Pitney Bowes, as well as regional, national and international firms such as Trane and DoosanMachine Tools. Camber and Advance plan to convert some portions of the property from offices into light industrial use, al- lowing it to capitalize on the robust demand for indus- trial space driven by Northern New Jersey’s access to nearby ports and densely populated communities throughout the region. “The property is one of the premier light industrial as- sets in Northern New Jersey and is situated in a location that is desirable to both global and national companies and regionally headquartered us- ers,” said Dave Surt i, prin- cipal of Camber Real Estate Partners. Constructed in 2001, 19 Chapin Rd. is situated on 129.4 landscaped acres and features 22-foot ceilings with- in the warehouse space. A variety of potential office con- figurations make it suitable for an array of manufactur- ing, distribution, office and research laboratory uses. “The property’s proximity to executive housing, as well as its access to an abundant and well-educated labor force enhances its profile as a desir- able industrial asset in North- ern New Jersey,” said Alex- ander Cocoziello , principal
Middlesex Business Center
across from the NJ Transit Station, Bus Station, and the NJ Path trains. Lions Head Office Park, Brick - The following tenants have completed transactions totaling 13,230 s/f; Alan M. Floria, Esq. and Laurie A. An- derson t/a P&L Bookkeeping and Tax Associates, Jaydien Network Solutions, Randolph Center for Oral and Maxillofa- cial Surgery, CWA Local 1088, New Jersey Spine & Wellness, Shore Nephrology, and CRK Construction. Lions Head Of- fice Park consists of 64,480 s/f in 13 one-story buildings located at the intersection of Beaverson and Brick Boule- vards. Middlesex Business Center, South Plainfield - The follow- ing tenants have completed transactions totaling 111,884 s/f; Alpha Assembly Solutions, HB Communications, Nor- mandy Studios and Genewiz. Middlesex Business Center is a 429,000 s/f 11-building of- fice/industrial complex located directly off I-287 and within 6-miles of the NJ Turnpike and Garden State Parkway. n
19 Chapin Rd.
Baker Waterfront Plaza
Hoboken, NJ — Nation- al Realty & Development Corp. (NRDC) recently an- nounced that 133,700 s/f of of- fice and industrial transactions have been finalized throughout their New Jersey office and in- dustrial portfolio. NRDC owns and manages four business parks in the New Jersey region. Baker Waterfront Plaza, Hoboken - The following ten- ants have completed transac- tions totaling 8,593 s/f; New Jersey Transit, Beacon Acu- puncture Wellness, NW Capi- tal Markets & NW Financial Group, and Magnolia Innova- tion. Baker Waterfront Plaza is a 95,000 s/f class A office building located at 2 Hudson Place between the Holland and Lincoln Tunnels and directly
19 Chapin Rd. aerial
and vice president of Advance Realty. “We are pleased to continue our partnership with Camber Real Estate Partners on this best-in class industrial opportunity.” The partnership plans to reposition the asset and hold it as a long-term investment. “This property offers our partnership another rare op- portunity to acquire an insti- tutional-quality asset in the supply-constrained Northern New Jersey market,” said Christopher Bellapianta , managing principal of Cam- ber Real Estate Partners. “The property has a strong mix of tenants, and we look forward to adding new com- panies to its roster as we com- plete the repositioning and
ensure its long-term success.” The project was marketed for sale by the New Jersey investment sales team of Hol- liday Fenoglio Fowler, L.P. (HFF) . The team was led by Jose Cruz , senior managing director and co-head of New Jersey and included Kevin O’Hearn, Michael Oliver, Stephen Simonelli, Marc Duval and J.B. Bruno. Greg Nalbandian , senior managing director of HFF’s Equity, Debt and Structured Finance Group arranged mortgage financing with a team including Timothy Mason. The financing was provided by Natixis who originated a $40.0 million floating-rate loan concurrent with the acquisition. n
Jarmel Kizel completes design project in Livingston, NJ
The Corner at Livingston
Livingston, NJ — Jarm- el Kizel recently completed design project in Livingston, NJ. “The Corner at Livingston” is a new retail development that opened for business last month. Jarmel Kizel designed
two of the three buildings which were developed by Saber Real Estate Advisors . The project includes exciting brands like Shake Shack, Blaze Pizza, The Container Store, Starbucks, and others. n
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