Real Estate Journal — March 24 - April 13, 2017 — 3A


M id A tlantic

M id A tlantic R eal E state J ournal

Zweibel &Tragash of Gebroe-Hammer rep. both parties SELA acquires a 106 unit complex for $24 million in NJ M ount Arling- ton, NJ — SELA Real ty Invest - Tragash of Gebroe-Ham- mer Associates represent- ed both the seller and buyer in the transaction.

Roddy Inc. represents lessee KrausUSA leases 85,000 s/f fromWhitesell Const.

ing, approx. 4,500 s/f of air- conditioned office space and parking for fifty-two (52) automobiles. The landlord, Whitesell Construction Co., Inc., is SouthernNew Jersey’s largest privately owned real estate development firm. The com- pany owns over 9.3 million s/f of commercial office, indus- trial, and retail space; serves 200 tenants, and has been in existence for close to 60 years. Frank Roddy , president of Roddy Inc. who repre- sented Kraus, advised that the long-term lease calls for an aggregate rental of $2.35 million. n

Delran, PA — Roddy Inc., the Bensalem, PA in- dustrial and commercial real estate brokerage firm, an- nounced that it represented Kraus USA, Inc. in leasing 85,000 s/f of the 217,700 s/f modern one story masonry and steel multi-tenant indus- trial facility situated on 10 acres located at 2703 Cindel Dr., Cindel Business Park, Delran, Burlington County. The leased space offers Kraus 30’+ clear ceiling heights, an ESFR sprinkler system, sixteen tailgate docks, one drive-in door, 40’x 60’ column spacing, T-5 lighting, natural gas heat-

ning to add some activities and amenities to the senior community in order to raise resident satisfaction and in- crease occupancy levels that had been down these past couple of years” Steinberg also said: “The elderly population in the United States will experi- ence a considerable growth in the next couple of years; this will lead to more de- mand for 55+communities and should help us raise occupancy levels and rent increase in the long run. AdamZweibel and Steve

ments , The F o r t L e e based Real Es tate In- v e s t m e n t andManage- ment Com- p a n y h a d announced i t s recent

“Adam and Steve did a great job bringing this deal to my attention and helping me along the way with all the issues we have had” says Mr. Steinberg The building offers ameni- ties such as elevators, Gym, Pool, Putting green, Pool table, In unit washer and dryer, club House, Personal storage units and more. The occupancy at the time of pur- chase was at 90%. n

Tal Steinberg

acquisition – a 106 unit complex for 55+ in Mount Arlington. Tal Steinberg , manag- ing member for SELA said: “We are pleased to add this beautiful building to our portfolio. It was built ap- prox 12 years ago, and the builder spared no expense with the level of quality and the amenities. The tenancy is really amazing and it was run smoothly by the previous owner however we are plan- Cast le Lanterra Props . rece i ves Real Estate Finance & Investment’s 2017 “Manager of the Year” Award NEW YORK, NY — Castle Lanterra Properties (CLP) , has been recognized as 2017 “Manager of the Year - Perfor- mance, Innovation and Strat- egy” by Real Estate Finance and Investment (REFI) . The award, which was presented at REFI’s annual luncheon, honored the privately-held New York-based real estate company and its founder and CEO, Elie Rieder , for its ex- ceptional performance and in- novative strategy for success. “I am honored to have been selected from such an es- teemed and well-respected group of nominees,” said Rie- der. “This award exemplifies the dedication of the entire Castle Lanterra team when it comes to implementing our strategy for acquiring and managing quality income-pro- ducing multifamily properties in strategic growth markets. Our focused attention on the twin goals of generating supe- rior rates of return for inves- tors and improving the quality of life of our residents has produced exceptional results over the past year for both our company and the communities we serve.” n

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