M id A tlantic Real Estate Journal — Owners, Developers & Managers — Contractors/Subcontractors — January 21 - February 17, 2022 — 5C Contractors/Subcontractors
www.marej.com
Cruz, Simonelli, Bruno, Oliver and O'Hearn lead team representing Clarion Partners, LLC JLL Capital Markets completes sale of Montclair Residences at Bay Street Station
M
ban location, the community provides residents with access to a commercial thoroughfare consisting of grocery stores, highly rated restaurants and high-end boutique shops. In addition, the location at Bay Street train station provides access to Midtown Manhattan within 35 minutes and Newark within 10 minutes. The JLL Capital Markets sales and advisory team rep- resenting the seller was led by Jose Cruz, Steve Simonelli, J.B. Bruno, Michael Oliver and Kevin O'Hearn . “The Montclair Residences at
Bay Street Station saw signifi - cant interest from the invest- ment community with multiple national groups taking part in the bidding process,” Cruz said. In a second transaction, the JLL Capital Markets team led by Jose Cruz, Michael Oliver, Steve Simonelli, Kevin O'Hearn and Michael Zlot- nick closed the sale of Alister Nanuet, a 504-unit, value-add multi-housing community located in Nanuet, NY. JLL worked on behalf of the seller. Cammeby’s acquired the asset, moving from contract to closing in less than 30 days. MAREJ
ONTCLAIR, NJ — JLL Capital Mar- kets has closed the
sale of Montclair Residences at Bay Street Station, a 163-unit, transit-oriented multi-housing community in suburban NYC community of Montclair. JLL represented the sell- er, Clarion Partners . Mill Creek Residential Trust, and Cigna Investment Man- agement acquired the asset. The institutionally owned and impeccably maintained community consists of seven studio apartments, 108 one- bedroom apartments and 48 two-bedroom residences. The units feature granite counter- tops, stainless steel appliances, full-size washers and dryers, marble vanities, individual HVAC and ceramic and carpet flooring. The impressive ame - nity package includes a heated swimming pool with a sundeck, a barbeque and fire-pit lounge, a state-of-the-art fitness center, a covered parking garage, a resident’s lounge, an internet café and direct access to Bay Street Station. The property is located in downtown Montclair, one of New Jersey’s most sought-after and affluent towns. Offering an urban culture in a subur- continued from page 4C Air leakage test results provide . . . testing, the team was able to identify sources of air leak- age around doors, at the wall to floor interface, and around through wall penetrations. So, why is this important? These findings indicate air leakage that could result in heat loss or condensation, both of which can damage equip- ment and create expensive energy bills. The building envelope and air tightness are critical components of energy efficiency, and the quality of air barrier installation is nec- essary to support successful function of your facility. While the requirement for this testing will likely increase as society moves towards a greener, more energy efficient life, engaging a building envelope consultant early in the design process can protect you from costly perfor- mance issues today. Steve Creato is project manager, facilities and An- drewFix is a senior project manager, facilities at ECS Corporate Services. MAREJ
Montclair Residences at Bay Street Station
YOU R L I A B I L I T Y I N S U R AN C E U NQU E S T I ONA B L Y H A S A P O L L U T I ON E X C L U S I ON That means no protection against direct and indirect liability losses, and property devaluation, caused by mold, bacteria, legionnaires disease, oil spillage, lead, and many more pollution-related claims. E. B. Cohen Insurance and Risk Management has solutions and coverages to fill this gap in your security.
GET A FREE RISK SURVEY AND NO OBLIGATION CONSULTATION TODAY
Made with FlippingBook Annual report maker