Real Estate Journal — New Jersey — February 9 - 22, 2018 — 3B
www.marejournal.com
M id A tlantic
N ew J ersey The single-tenant properties, range in size from 38,000 s/f to 141,000 s/f NKF Capital Markets announces sale of a 254,000 s/f Northern NJ industrial portfolio
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38,000 s/f to 141,000 s/f, are occupied by a diverse tenant roster for a wide range of uses including plastics manufac- turing and assembly, light industrial, storage, office, and private label supplement development. Each property is located within five miles of a major New Jersey thorough- fare, providing exceptional regional connectivity in every direction. “The Portfolio represents an- other successful repositioning by Tulfra, who spent millions in upgrades, limiting capital exposure and enhancing curb
appeal of the properties,” said Schulz. “Demand for well- located industrial assets is at an all-time high, with very few offerings in the market. The buyer will benefit from long- term, stable cash flow secured by 9.6± years of remaining lease term with contractual rent bumps providing increas- ing yield.” “We greatly appreciate Tul- fra’s confidence in our ability to execute this complex in- dustrial transaction and are pleased that we were able to maximize the sale value on their behalf,” said Welsh. n
ORTHERN, NJ — NKF Capital Mar- kets announced its
representation of Tulfra Real Estate in the 100% interest sale of four net leased indus- trial assets located throughout Northern New Jersey which total 254,000 s/f. The transac- tion was completed by execu- tive managing director Kevin Welsh , managing director Brian Schulz and financial analyst J ason Emrani of the Tri-State Capital Markets Team. The team also procured the buyer, a private high net worth investor based in Air- mont, NY. The NKF Capital Markets Debt & Structured Finance team of vice chairmen and co-heads Jordan Roe- schlaub and Dustin Stolly , as well as managing director Dan Fromm and associate Robert Tonnessen , secured acquisition financing for the purchase. The single-tenant proper- ties, ranging in size from Sheldon Gross Realty inks 8,860 s/f lease EAST ORANGE, NJ — An 8,860 s/f location within East Orange’s historically and cul- turally unique Manufactures Village complex located at 60 Franklin St. has been leased by Heart of Worship Church. Arranged by Eric Weston of Sheldon Gross Realty , the transaction provides the 21st century ministry with a free-standing, two-story brick structure that’s more than 100 years old. “There’s no other location quite like the Manufacturers Village complex,” says Weston. “It’s an inspirational place with tremendous character – all of which will only enhance the vibrancy of Heart of Wor- ship Church.” Manufacturers Village is a thriving, mixed-use complex with tenants ranging from small businesses, to more than 30 art and crafting studios, to light manufacturing, to religious organizations. In the 1880s, it was the original home of Seabury & Johnson, the business that eventually grew to become Johnson & Johnson. Sheldon Gross Realty has worked with Manufacturers Village for more than 15 years, making management and leas- ing services available to the property’s ownership. n
Four net leased industrial assets in NNJ
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