12A — January 26 - February 8, 2018 — M id A tlantic
Real Estate Journal
www.marejournal.com
M id A tlantic R eal E state J ournal
Sheldon Gross Realty brokers deal on 32,000 s/f
ANAYUNK , PA — Beacon Com- mercial Real Es- 10,838 RSF lease at 10 Shurs Lane in Manayunk, PA DiBianca of Beacon Commercial RE reps. Neducsin Props. M
to the New Jersey Turnpike, and only a short drive from both the Garden State Park- way and Route 287. “This is an excellent ar- rangement, both for Bivona & Company and Linden Mo- tor Freight,” Glick said. “The warehouse’s excellent ceiling height, loading dock doors and close proximity to their exist- ing facility it an ideal fit.” Glick has represented Bivo- na & Company during mul- tiple commercial real estate transactions For more than 20 years. n Rheumatology Associates of North Jersey, one of the larg- est rheumatology practices in New Jersey, has leased 1,650 s/f on the second floor with a 5 year lease. “We are very pleased with the signing of these medical/ office tenants” said Matthew Weiss . “It further confirms Kennedy Medical Center’s status as the premier medi- cal office building in Hudson County.” These lease signings bring the class A medical of- fice building to nearly 100% occupancy. n ing at such prestigious firms as JP Morgan and Ernest & Young. Koggan will focus on understanding the market dynamics of the Northern/ Central NJ industrial market, in particular those submarkets in Union, Middlesex and Som- erset County. With over 24 years of sales and marketing experience, DiNorscio formerly served as a sales associate with Keller Williams in Maplewood. Prior to this position, he spent his career working at such firms as KCG Holdings and NASDAQ. Tom will focus on understand- ing the market dynamics of the Northern/Central New Jersey industrial market, in particu- lar those submarkets in Union, Essex and Hudson County and around the Ports. n
EDISON, NJ —A 32,000 s/f space at 21 Distribution Blvd. in Edison was recently leased by Bivona & Co. from owner Linden Motor Freight. The warehouse transaction was arranged by Jonathan Glick , executive vice president for Sheldon Gross Realty, who rep- resented Bivona & Company. A specialist in fine furnish- ings for nurseries, Bivona & Company will utilize the Distribution Blvd. location to supplement their main distri- bution facility in Edison. The facility is immediately adjacent UNION CITY, NJ — Weiss Realty , headquartered in Moonachie has announced the signing of two lease transac- tions for 16,025 s/f of medical offices with an aggregate rent- al of $5,504,250 at Kennedy Medical Center, 3196 Kennedy Blvd. in Union City. Sanitas of New Jersey, LLC, an independent health care organization with specialized healthcare services and urgent care clinics, has signed a 12 year lease comprising 14,375 s/f on the main level of this iconic 4-story art deco building. EDISON, NJ — Bussel Realty Corp. (BRC) , an in- dustrial real estate services firm in New Jersey, announced William Koggan and Thom- as DiNorscio have joined the company as sales associates. “As our market share con- tinues to grow in industrial brokerage services in New Jersey, we continue to add to our brokerage staff in order to meet the increasing require- ments of our clients,” said Steve Bussel , president of BRC. “The sales and market- ing experience of Bill and Tom will be beneficial in negotiating and closing deals as well as marketing our client’s proper- ties.” With over 25 years of sales and marketing experience, Koggan spent his career work- New York, NY — Blue- Gate Partners announced the recent addition of Marc Schulder as a managing di- rector on its Capital Markets team in their New York City office. Schulder will be re- sponsible for originating and executing debt and equity ad-
t a t e L LC ann o un c e d the lease ex- tension and expansion of Muhlenhaupt & Co. at 10 Shurs Lane in Manayunk . Muhlenhaupt
Jim DiBianca
extended the term for 10 years and expanded their space from 4,081 RSF to 10,838 RSF with Neducsin Properties, LP . Muhlenhaupt is making this dramatic expansion as the company builds upon the suc- cess and growth enjoyed over the first five years in busi- ness. Although this is a near- ly a 300% increase in space, Muhlenhaupt will fuel the construction of MNYK Studios, a 3,000 s/f creative workspace for the audio and visual arts. NEWARK, NJ — New Jer- sey Insurance Underwriting Association (NJIUA) has leased 7,500 s/f of class A office space at 570 Broad St. in downtown Newark, which is owned by The Berger Organization . NJIUA, which had been at 744 Broad St. for over 30 years, signed a seven-year lease with options in the 15-story office building. Richard Charles from CBRE acted as broker, working with Brendan Berg- er of The Berger Organization, a privately owned diversified real estate company based in Newark. The Berger Organiza- tion owns and manages a port- folio of more than two million s/f of space in northern New Jersey and New York City. According to Brendan Berg- er, demolition is underway and the company is currently NEWARK, DE — Sun- dance Real Estate Advi- sors , in continuing with their successful small space pro- gram, Shelbourne Univer- sity announced the following leases aimed at housing tech- nology companies, nonprofit organizations, and tenants seeking micro offices at Uni- versity Office Plaza. Blue Collar Technologies, D&J Technologies, and Hong Teng
WeissRealtyarranges16,025 s/f medical office leases
10 Shurs Lane
This move demonstrates a ten- year commitment to growth and talent development in the Manayunk neighborhood, all in what Muhlenhaupt is call- ing “our pursuit of brilliance." Adam Muhlenhaupt, principal and COO, shares "It's a big expansion for us. We're being opportunistic and aggressive
with our growth in 2018 and beyond. Our idea is to continue to attract the top creative and strategic talent our city has to offer in our cozy neighborhood of Manayunk." Beacon Commercial Real Estate, LLC – Jim DiBianca (landlord) was the broker in the transaction. n business district. Full tenancy is expected at the beginning of the summer. The NJ Insurance Under- writing Association was cre- ated by the Legislature of New Jersey in 1968 to provide essential property insurance to any person unable to obtain insurance from a voluntary company. “NJIUA has been an estab- lished presence in the neigh- borhood for decades, and it was important to the team there to find space close by, that offered the flexibility they sought,” said Berger. “We are looking forward to working with Steven Mutterperl, president of the Association, and his team, to develop an exciting new space at 570 Broad. I think they will be very happy with the change.” n Sundance Real Estate Advi- sors has also signed Hand-In- Hand Counseling and Global Counseling as well as B&N Accounting, Winston Deleon, and Trius Trucking. Addition- ally, the property continues to lease micro offices through their small space program - newly built turnkey suites ranging in size from 250 s/f to 20,000 s/f. n
The Berger Organization leases 7,500 s/f at 570 Broad St. in Newark, New Jersey
William Koggan & Thomas DiNorscio join Bussel Realty
570 Broad St.
working with its architect on plans for NJIUA’s new space, which will occupy half a floor in the 200,000 s/f building located in the city’s central
Sundance Real Estate Advisors declares leasing activity at University Office Plaza in Newark, Delaware the property.
visory assignments, as well as investment sales transactions. Previously he had been at Ack- man Ziff since 2013 where he worked on more than $1 bil- lion of transaction volume of multifamily, hotel, industrial, and retail asset joint ventures, acquisitions, and refinances. n BlueGate hires Schulder as amanaging dir.
University Office Plaza
all signed new leases bolster- ing the technology presence at
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