N ew J ersey 6B — August 20 - September 16, 2021 — New Jersey — M id A tlantic Real Estate Journal
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The landlord, The Berger Organization agrees to a long-term lease of 35,000 s/f at 570 Broad St. Joseph, Janoczkin & Ramani of Lee & Associates guides charter school in Newark, NJ relocation
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ment for its students.” Located in Downtown New- ark, 570 Broad St. boasts exceptional city views and is turn-key ready space for the tenant, as the property was built out for a charter school. The school is in proximity to a brand-new Whole Foods Mar- ket, a newly renovated train station and within a short walk to the Prudential Center. “We’ve seen increasing de- mand for charter schools in Newark and are honored to represent these institutions in real estate transactions that help them reach new students” added Janoczkin. MAREJ NAI James E. Hanson negotiates two leases to bring Parsippany ind. building to full occupancy PARSIPPANY, NJ — NAI James E. Hanson has negoti- ated a renewal with Worldpac for 43,419 s/f and a new lease with Silk Road Wholesale & Distributors for 27,169 s/f of industrial space at 343 Walsh Dr. in Parsippany. NAI James E. Hanson’s Scott Perkins, SIOR, Christopher Todd, William Ericksen and Dena Scott represented the land- lord, Cranberry Realty, in both transactions. Jules Nissim of Cushman & Wakefield rep- resented Worldpac and Chad Hillyer of JLL represented Silk Road Wholesale & Dis- tributors in their respective transactions. 343 Walsh Dr. is a 70,588 s/f single-story industrial building. With NAI James E. Hanson’s two leases, the modern, well- located industrial building is now 100% leased to two high- quality tenants. “We continue to see the emer- gence of the Morris County submarket as the next industrial hotspot,” said Perkins. “Owing to its relative affordability com- pared to markets further east and its ideal accessibility, we ex- pect to see growing demand for properties like 343 Walsh Dr. in the quarters to come. In highly fluid market conditions like this, it is crucial that landlords part- ner with a brokerage team that possesses the market knowledge and local area contacts needed to successfully secure short and long-term fair market value for their assets.” MAREJ
EWARK, NJ — Lee & Associates New Jersey announced
that the commercial real estate services firm has arranged a 35,000 s/f lease for University Heights Charter School at 570 Broad St. in Newark. A Lee & Associates New Jer- sey team led by assistant vice president Jerry Joseph, as- sociate Kyle Janoczkin and associate Tarang Ramani guided the charter school in its relocation from a smaller space in Newark. The landlord, The Berger Organization , has agreed to a long-term lease
Jerry Joseph
Kyle Janoczkin
Tarang Ramani
allowing the school to begin the 2021-22 school year in the new space. “We are fortunate to be able to have helped University Heights Charter School relo-
cate to a state-of-the-art facil- ity in downtown Newark,” said Joseph “We hope this space helps the charter grow and continue to create a successful and healthy learning environ-
570 Broad St. in Newark
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